RATE Group | Airbnb Co-Founder Backs Crypto Dealer’s $23 Million Funding Round
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Airbnb Co-Founder Backs Crypto Dealer’s $23 Million Funding Round

16 Aug Airbnb Co-Founder Backs Crypto Dealer’s $23 Million Funding Round

Posted at 21:41h in Cryptocurrency News by

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bitcoin cryptocurrency

Institutional-grade cryptocurrency prime dealer SFOX has raised nearly $23 million to fund the development of full-featured asset management platform for large-scale cryptocurrency investors.

Announced on Thursday, SFOX’s $22.7 million Series A funding round was led by Tribe Capital and Social Capital, and it also included investments from Y Combinator, Khosla Ventures, Blockchain Capital, and Airbnb co-founder Nathan Blecharczyk.

SFOX helps institutional investors execute large cryptocurrency trades, routing orders through a myriad of exchanges and over-the-counter (OTC) trading desk, enabling them to capture the best available prices while also minimizing the impact that large orders have on cryptocurrency prices in the spot markets.

“The distributed nature of cryptocurrency has given rise to a large breadth of exchanges around the globe, creating a fragmented market and limited liquidity,” said Akbar Thobhani, CEO of SFOX. “Over the last four years, we’ve been…

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