sFOX
Company type | Private |
|---|---|
| Industry | Cryptocurrency exchange |
| Founded | 2015; 11 years ago (2015) |
Key people | George Melika and Akhbar Thobani |
| Website | sfox |
sFOX (San Francisco Open Exchange) is a cryptocurrency prime dealer and trading platform[1] founded in 2014.
History
[edit ]The company was founded by George Melika and Akhbar Thobani[2] in 2014 as the San Francisco Open Exchange (SFOX).[3] Thobani had previously been a software engineer at the startup Airbnb and Melika had been a software developer for asset manager Nuveen.[4] It is a remote company and has no headquarters.[5] It operates as a prime dealer and trading platform.[6] Its users are primarily hedge funds and other institutional investors,[7] it originally accepted users on an invitation-only basis.[2]
As of 2018, Forbes estimated its yearly revenue to be roughly 15ドル million.[4] In 2018, it raised 22ドル.7 million in funding led by Y Combinator and Tribe Capital.[8]
In 2019, SFOX announced a partnership with M. Y. Safra Bank of New York to offer FDIC insured deposit accounts for crypto traders.[9]
As of 2020, the exchange had a gross trading volume of 11ドル billion.[3]
In August 2022, the IRS filed requests to serve information summonses to SFOX and M. Y. Safra Bank for the purpose of collecting tax information.[10] On August 15, 2022 the United States Department of Justice ruled that SFOX would have to provide the IRS with trading records for users conducted trades totaling 20,000ドル or more on its platform.[11]
References
[edit ]- ^ Pompella, Maurizio; Matousek, Roman (2021年06月01日). The Palgrave Handbook of FinTech and Blockchain. Springer Nature. p. 464. ISBN 978-3-030-66433-6.
- ^ a b Buhr, Sarah (2014年08月23日). "San Francisco Open Exchange Aims To Be The E-Trade Of Bitcoin". TechCrunch. Retrieved 2025年05月04日.
- ^ a b Kumble, Ganesh Prasad (2020年07月31日). Practical Artificial Intelligence and Blockchain: A guide to converging blockchain and AI to build smart applications for new economies. Packt Publishing Ltd. p. 115. ISBN 978-1-83882-507-2.
- ^ a b Kauflin, Jeff. "Startup Raises 23ドル Million To Make Crypto Trades Faster And Stealthier". Forbes. Retrieved 2025年05月04日.
- ^ Kumparak, Greg (2019年10月02日). "These are the top Y Combinator companies of all time, based on valuation". TechCrunch. Retrieved 2025年05月04日.
- ^ Edelman, Ric (2022年05月10日). The Truth About Crypto: A Practical, Easy-to-Understand Guide to Bitcoin, Blockchain, NFTs, and Other Digital Assets. Simon and Schuster. ISBN 978-1-6680-0234-6.
- ^ "Former Social Capital Partners Make First Investment Since Exit". Bloomberg.com. Archived from the original on 2024年07月12日. Retrieved 2025年05月04日.
- ^ "SFOX Secures 22ドル.7 Million Series A for Crypto Asset Management". Wall Street Journal. 2018年08月17日. ISSN 0099-9660 . Retrieved 2025年05月04日.
- ^ Mehdi, Khosrow-Pour D. B. A. (2020年09月29日). Encyclopedia of Organizational Knowledge, Administration, and Technology. IGI Global. p. 417. ISBN 978-1-7998-3474-8.
- ^ "IRS Seeks SFOX Customer Information in Cryptocurrency Tax Push". Bloomberg.com. Archived from the original on 2022年10月03日. Retrieved 2025年05月04日.
- ^ Frankel, Alison (August 19, 2022). "Crypto trader can sue IRS over 'John Doe' summons for Coinbase records, court says". Reuters.