The sFOX Story

Institutional infrastructure built to eliminate the structural failures that cost the market $60B+

sFOX Built for What The Market Got Wrong

Since 2014, sFOX has built infrastructure to address structural failures plaguing digital asset markets, including fragmented liquidity, counterparty risk, and commingled assets.

Not just a safer on-ramp – an infrastructure layer where regulated institutions operate end-to-end.

When Systems Don’t Connect

Institutions are forced to rely on individual platforms, which creates hidden dependencies and concentrated risk. And when those platforms fail, client funds are left exposed: frozen, inaccessible, or permanently lost.

To date, over $60B in client assets have been lost or impaired across major market events. These weren’t edge cases. They were systemic failures. And sFOX was built to solve them.

Built for Every Market Cycle

As the market evolved – and at times failed – sFOX remained focused on building durable infrastructure for institutions. Through every cycle, we’ve delivered consistency, resilience, and continued execution.

2014

Mt. Gox collapses, exposing the risks of fragmented and immature crypto infrastructure.

The collapse wiped out roughly $56 billion in today’s dollars — underscoring exactly the problem sFOX was built to solve: a reliable, regulated way for institutions to access digital asset markets.

Market Event
Infrastructure begins.

2014

sFOX was founded in 2014 by George Melika and Akbar Thobhani.
Supporting copy: Registered as a Money Services Business with FinCEN, sFOX® is built to provide institutional-grade cryptocurrency trading, liquidity, and infrastructure for businesses and hedge funds.
sFOX Milestone
It starts here.

2016

The Bitfinex hack reinforces the need for stronger controls around digital asset security.

sFOX continues developing institutional trading infrastructure designed around reliability, access, and execution.
Market Event
Security becomes foundational.

2018

sFOX raises $22.7 million to build the first institutional crypto asset management platform.

The Series A round, led by Tribe Capital and Social Capital, funds sFOX’s expansion beyond prime dealing into advanced security, risk management, and market infrastructure for institutional investors.
sFOX Milestone
Capital to build further.

2020

Black Thursday sends crypto markets into one of their fastest and most severe selloffs.
Market Event
Resilience under pressure.

2020

sFOX Top 8
Named one of the Top 8 Crypto Companies of 2020.
sFOX Milestone
Recognized through volatility.

2021

The Poly Network hack becomes one of the largest digital asset exploits at the time.
Market Event
Security tested at scale

2021

sFOX unveils the first trading platform designed specifically for hedge funds.

The platform brings hedge funds deep global liquidity, trade cost analytics, and flexible settlement in one place — capabilities previously available only to the market’s largest trading firms.
sFOX Milestone
Institutional workflows, purpose-built.

2022

A year of systemic failure.

• Terra and Luna collapse
• Celsius freezes withdrawals
• Three Arrows Capital fails
• Voyager files for Chapter 11

Market Event
Contagion spreads across the market.

2022

Trust became the market's scarcest asset.

• FTX files for bankruptcy
• BlockFi files for bankruptcy

Market Event
The collapse continues.

2022

SAFE Trust custody is approved and launched.

Regulated digital asset custody designed to combine asset protection with institutional trading access.
sFOX Milestone
Custody built for the next market cycle.

2023

Genesis files for bankruptcy as the consequences of the previous cycle continue.

sFOX enters the next phase with trading, liquidity, and custody infrastructure already in place.
Market Event
Built beyond a single cycle.

2024

sFOX Connect launches.

A flexible crypto API platform designed to help businesses embed institutional digital asset capabilities into their own products
sFOX Milestone
One connection. More possibilities.

2025

$600B+
sFOX surpasses $600 billion in transaction volume.

A decade of infrastructure, execution, and institutional market access—proven at scale.
sFOX Milestone
From first trade to $600B+.

2026

BlockFills files for Chapter 11.

Even as institutional adoption grows, counterparty and infrastructure risk remain critical.
Market Event
The need for durable infrastructure continues.

2026

Javier Martinez appointed CEO.

A new chapter of leadership focused on expanding sFOX’s institutional infrastructure and global market capabilities.
Leadership
Building what comes next.

Built for a Market That Didn’t Talk to Itself

sFOX unified fragmented markets by aggregating liquidity across venues into a single access point, eliminating reliance on any one exchange or counterparty.

• One Market, Not Many: By aggregating liquidity across 40+ providers, sFOX removes the need to connect to and manage multiple exchanges – giving you one unified access point to the global market.
• Trade without Friction: With access to 80+ markets through a single platform, institutions can trade seamlessly without navigating disconnected venues or fragmented infrastructure.
• Scale without Slippage: Deeper aggregated order book liquidity enables larger trades with reduced slippage, tighter spreads, and more consistent execution.

Built for Asset Protection

As the market matured, the risks became systemic – counterparty exposure, commingled assets, and exchange failures that left billions in client funds frozen or lost.

sFOX built SAFE to eliminate those risks.

Client funds remain protected at the source.

Client assets are held in segregated accounts under a regulated Wyoming trust – never commingled, never exposed to the exchange’s balance sheet, and never treated as company assets. Even in a bankruptcy scenario, client funds remain protected.

Protection built into the foundation.

Protection from internal failure. Protection from external risk. Built into the foundation.

Beyond structural protection, sFOX enforces institutional-grade security across its infrastructure to defend against external threats.

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