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Crypto Exchange FTX Buys Blockfolio for $150 Million in Effort To Expand Retail Presence

Cryptocurrency derivatives exchange FTX has acquired the popular portfolio tracking app Blockfolio for $150 million in a bid to gain a foothold in the crypto retail market. The deal – consummated after nine months of negotiation – was settled using a combination of cash, crypto, and stock, both companies detailed. It is one of the biggest acquisitions in the digital asset industry’s short history. According to a blog post published Aug. 26, the firms are currently working on a retail trading application that is expected to fit into Blockfolio’s existing product offering. The newest app will be released in September.…

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