SFOX, a San Francisco-based cryptocurrency prime broker, has successfully closed a $22.7 million funding round to build an institutional-grade asset management platform for the industry’s largest investors. As the former head of growth and business development at Airbnb, SFOX CEO Akbar Thobhani would appear to have struck a chord with some of the most influential figures in Silicon Valley. SFOX’s Series A round attracted a number of venture capital heavyweights–including co-leaders Tribe Capital and Social Capital; investors Y Combinator, Khosla Ventures, Blockchain Capital; and Airbnb Co-Founder Nathan Blecharczyk. Feeding the Whales Catering to some of the most affluent investors in crypto, SFOX claims to have dealt more than $9 billion worth of crypto-assets to hedge funds, family offices and high net worth individuals—or what retail traders would dub the “smart money.” Since 2014, SFOX has helped clients execute high-ticket cryptocurrency orders presumably in the tens, if not hundreds, of
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