Blockfolio is acquired by FTX cryptocurrency exchange for $150 million

Blockfolio, a popular crypto price tracking app, announced that it has been acquired by FTX, a crypto exchange, for $150 million in cash, stock, and cryptocurrency. Having more than 6 million downloads in the App Store and Google Play, Blockfolio had previously raised a total of $17.5 million in four funding rounds with the participation of Pantera Capital, Pathfinder, DCM Ventures, Abstract Ventures, Dan Matuszewski, and more.  

It's happening.https://t.co/skNru4fvyi pic.twitter.com/LDJJHM44u4

— Blockfolio (@blockfolio) August 25, 2020

Following the acquisition, Blockfolio noted that the company will launch a retail trading experience, powered by FTX. The company opened it to pre-registration.  

In a written statement, Blockfolio said the portfolio tracking app will continue to operate independently and the users will continue to be able to import data from whichever exchanges they prefer to use. 

“Without going too much into the gory details, the goal here is to be able to offer the best product that can leverage the loyal following that Ed has built out. I think what that means is pulling out all the stops.That means giving access to Blockfolio to all of the entities we have and for each user, hooking them up with what fits them,” Sam Bankman-Fried, CEO, FTX said to The Block.