New York-based crypto hedge fund Parataxis acquired the funds run by Seattle digital-assets startup Strix Leviathan, according to GeekWire’s February 18, 2025 report. The reports reviewed do not disclose the purchase price, detailed legal terms or a definitive closing date. Bloomberg Law put the Strix funds’ assets at about $20 million at the time of its 2025 coverage; that figure is not the deal price.
What was acquired?
GeekWire’s report describes the transaction’s acquired portion as Strix Leviathan’s funds. Although its headline says the startup was acquired, its article specifies that Parataxis acquired the funds. The available reporting does not establish that every Strix corporate asset or legal entity transferred.
Strix Leviathan’s LinkedIn announcement, quoted by GeekWire, called it a “strategic combination of two actively traded digital asset funds” intended to create an experienced investment firm and benefit the funds and investors. That is the company’s characterization of the deal, not a disclosed account of its legal structure or financial terms.
Who are Strix Leviathan and Parataxis?
Strix Leviathan
GeekWire described Strix Leviathan as a Seattle-based digital-assets startup launched in 2018 by Jesse Proudman and Sadie Raney. It offered cryptocurrency trading and management services to enterprises and institutions. The company spun out robo-advisor Makara in 2021; GeekWire reported that Betterment bought Makara in 2022.
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Parataxis
GeekWire identified Parataxis as a New York City crypto hedge fund co-founded in 2019 by Edward Chin and Thejas Nalval. Bloomberg Law reported that Parataxis managed more than $150 million at the time of its 2025 coverage. That is a historical reported figure, not a current assets-under-management figure.
How much was Strix Leviathan worth?
The available reports do not state the purchase price, so they do not establish how much Strix Leviathan was worth in the transaction. Bloomberg Law reported that Strix Leviathan’s funds oversaw about $20 million in assets. Assets under management describe money in the funds; they are not the amount Parataxis paid to acquire them.
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Bloomberg Law’s report also put Parataxis’s managed assets above $150 million at that time. The two reported asset figures describe different businesses and should not be mistaken for transaction consideration or treated as current values.
What happened to Strix’s leadership after the deal?
GeekWire reported that co-founder Sadie Raney later became CEO and that former Strix chief investment officer Nico Corderio joined Parataxis as a portfolio manager following the deal. The coverage does not provide further detail on the leadership transition or the continuing legal status of Strix Leviathan.
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- Smart backup: Use your second Tangem Wallet as your Backup keys with end‑to‑end encryption; no more papers, pictures. If one card is lost, the remaining can still restore full access, with an optional seed phrase available for advanced users.
- Engineered to last up to 25 years: Waterproof (IP69K), shockproof and tested for extreme temperatures from −25°C to 50°C. A durable cold wallet with long‑term protection and independently audited security.
- Trusted by 6 million users worldwide - buy, sell, swap, stake, and spend cryptocurrency directly. The secure offline storage wallet designed for how people actually use crypto wallets
When did the acquisition happen?
GeekWire published its report on February 18, 2025. An SEC-filed Parataxis Holdings investor presentation lists Bloomberg’s report about the acquisition as dated January 27, 2025. These are reported coverage dates, not a confirmed closing date; the available sources do not specify when the transaction legally closed.
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What remains undisclosed?
- The purchase price and any other financial consideration.
- The transaction’s detailed legal structure and which assets or entities beyond the funds, if any, transferred.
- A definitive closing date.
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
