Blockfolio Has Officially Rebranded To FTX As Final Step Of Acquisition

Blockfolio Has Officially Rebranded To FTX As Final Step Of Acquisition

 

Blockfolio has officially rebranded to FTX as the final step of its acquisition since a year ago as we can see more in today’s cryptocurrency news.

The popular multi-purpose crypto app Blockfolio has officially rebranded to FTX but the change will have no impact on the customer user experience. The crypto derivatives exchange FTX acquired Blockfolio in a deal worth $150 million and these two companies are taking their partnership a step ahead as the application rebranded. According to an official press release, the move came in an effort to serve retail traders a better option and to cement the FTX mobile as amongst the easiest and safest platforms to use. Commenting on the matter was the CEO of the exchange Sam Bankman Fried who said:

“The rebrand of FTX: Blockfolio to FTX puts the final cap on our acquisition of Blockfolio, doubling down on our commitment to being the number one crypto trading platform for both retail and institutional users. Rebranding Blockfolio shows our commitment to mobile trading, and is just another step in growing our brand on a global scale and will allow us to bring new features to market and better the user experience.”

The official website of Blockfolio is also rebranded and has FTX marketing credentials.

As recently reported, The Hong Kong-based cryptocurrency derivatives exchange FTX announced the acquisition of the crypto portfolio tracker Blockfolio for $150 million. FTX plans to collaborate with Blockfolio on a retail trading application that is supposed to be launched this fall. This is one of the biggest crypto acquisitions in the crypto space while Binance’s acquisition of CoinMarketCap was rumored to be $400 million. FTX is a crypto exchange that is focused on derivatives with $750 million in trades per day. Rather than buying and selling Bitcoin itself, the traders swap things such as options contracts and futures. The exchange also mints leveraged tokens that are complex and major exchanges such as Binance delists them because the users cannot understand them. Blockfolio’s portfolio tracker gives the users a broad overview of the direction of the crypto market by taking the price feeds of the major cryptocurrencies from hundreds of crypto exchanges as the company has raised more than $17 million since its launch in 2014.

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