Crypto exchange FTX acquires BlockFolio for $150 million

Crypto exchange FTX has acquired portfolio tracking app Blockfolio for $150 million – one of the largest acquisitions in the cryptocurrency industry this year.

Founded in 2014, the Blockfolio app has been downloaded by more than six million users and averages more than 150 million impressions per month. The company has previously raised more than $17 million from an impressive and global list of investors that include Founders Fund, Pantera Capital, Dan Matuszewski of CMS Holdings, DCM Ventures, Hashkey Digital Asset Group and others.

“From day one, our goal at FTX has been to build the best quality trading experiences with the deepest liquidity for the widest possible cross-section of traders. Blockfolio has built trusted relationships with millions within the crypto community, and we’re thrilled to be able to work with them to develop new and exciting experiences for that audience,” said Sam Bankman-Fried, co-founder and CEO of FTX.

In addition to the acquisition, FTX and Blockfolio are announcing that they are collaborating on a unique Blockfolio retail trading experience, set to launch later this year.

“We believe crypto is on the cusp of mainstream adoption. We’re thrilled by the potential of uniting one of the best product teams in our industry with what we are convinced is the best exchange in the space,” said Ed Moncada, Co-Founder and CEO of Blockfolio.

“To us, no one is innovating as quickly or with as much depth of thought and integrity as Sam and his team at FTX. I couldn’t be more excited.”