April 22 (Cointime) - Open Exchange, a public marketplace for crypto claims trading and derivatives, has responded to recent denials from some of its backers regarding their investment in the platform.

The exchange, which was launched by former founders of collapsed Three Arrows Capital, Su Zhu and Kyle Davies, expressed disappointment in the misrepresentation and stated that it would prefer not to have these parties as investors in the future.

Open Exchange had earlier disclosed its institutional backers and strategic partners, including AppWorks, Susquehanna (SIG), DRW, MIAX Group, China Merchant Bank International, Token Bay Capital, Nascent, and Tuwaiq Limited. However, institutions such as DRW, MIAX Group, Nascent, and Susquehanna have since denied investing in the exchange.

"We believe in full disclosure of our institutional backers and key strategic partners. It's ugly for firms to seek financial gain while simultaneously denying association due to fear of social media backlash." the firm tweeted.