TLDR:
- OX.FUN, a Su Zhu linked crypto platform announced a $4 million raise
- Venture capital firm Foresight Ventures denies leading the funding round
OX.FUN, a new gamified perps exchange, announced a $4 million financing round led by venture capital firm Foresight Ventures. However, Foresight Ventures has since distanced themselves from the fundraiser, stating that they are not affiliated with OX.FUN’s fundraising efforts. The platform features a dual-token model of $OX and $MILK, with $OX being the collateral and reward currency.
Su Zhu, the co-founder of collapsed hedge fund Three Arrows Capital (3AC), is linked to OX.FUN. 3AC collapsed in 2022, leading to the launch of a new crypto exchange called OPNX in early 2023. OPNX has also experienced difficulties and announced its shutdown earlier this year, advising customers to exit by February 14.
