The Open Exchange—designed as "a solution and home for those harmed by crypto crises"—is shutting down, the company announced in an email to customers today. The OPNX pitch was rooted in the scandal- and failure-ridden cryptocurrency industry, where customers stranded by the crypto crash could trade their pending recovery claims or use them as collateral. Its cofounders were Su Zhu and Kyle Davies, who founded the now-defunct Three Arrows Capital investment firm. "Founders who reach great heights and then fall learn the most important lessons and, therefore, have the most to contribute," they declared at the time.