Crypto Derivatives Exchange FTX Acquires Blockfolio For $150M

Cryptocurrency derivatives exchange FTX has acquired crypto portfolio tracker Blockfolio for $150 million.

FTX provides professional derivative trading products including quarterly and perpetual contracts on multiple crypto assets, leverage tokens and over the counter (OTC) services. The company services the full spectrum of investors from institutional to retail.

Founded in 2014, Blockfolio is a free app that tracks cryptocurrency prices across multiple exchanges, and allows users to monitor their current portfolio. Users can use the app to track purchases and sales or to Watch Only, tracking a coin’s value without showing how much a user hold. The app also alerts users when a coin reaches a particular price. Blockfolio supports over 10,000 cryptocurrencies and blockchain assets across 500+ exchanges.

According to FTX, the acquisition – one of the largest acquisitions in the cryptocurrency industry’s history – is a chance to bring “Blockfolio’s powerful trading suite and industry-leading liquidity to a new audience.”

“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,” said Sam Bankman-Fried, co-founder and CEO of FTX. “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.”

In addition to the acquisition, the two companies announced that they are collaborating on a unique Blockfolio retail trading experience, set to launch later this fall.

“We’re at the beginning of a bull market that will bring more new users to the space,” said Ed Moncada, Co-Founder and CEO of Blockfolio. “Together, we’re setting out to build a new standard for quality in retail trading experiences. When it comes to joining us on that mission, there is no exchange moving as quickly or as thoughtfully as the team at FTX.”