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Cryptocurrency News

FTX acquires Blockfolio in $150 million deal

The Acquisition

Announced on Wednesday in Asia, Blockfolio and FTX have joined forces in a new $150 million acquisition deal. Blockfolio is mobile-first application that has amassed a large retail audience over the past few years and became very popular at the height of the 2017 bubble.

FTX x Blockfolio

FTX, the new crypto-exchange that began trading in 2019, has gained a lot of traction through their relentless efforts to releasing novel products and have earned the right to be called “the fastest shippers” in the crypto-industry. However, the majority of their audience is either professionals or experienced retail investors. Pure retail is yet an area to be explored. The acquisition is the first and largest step forward in that direction.

Trading Integration

Blockfolio has announced that after this deal, a trading integration will be coming to their platform later in the year. This will help users buy/sell/trade assets much faster in an application they already use and are very familiar with. In as little as a year, FTX has come a very long way and quickly became one of the top exchanges in terms of liquidity and volume.

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