What is FTX doing with blockfolio?

Hong Kong-based cryptocurrency derivatives exchange FTX today announced the acquisition of cryptocurrency portfolio tracker Blockfolio for $150 million. FTX plans to collaborate with Blockfolio on a retail trading application, which it hopes to launch this fall. This is one of the largest crypto acquisitions.

What is blockfolio's portfolio tracker?

Blockfolio adds new portfolio feature keeping up with rival Delta. Hong Kong-based cryptocurrency derivatives exchange FTX bought Blockfolio for $150 million. Blockfolio’s portfolio tracker gives its users an idea of the direction of the cryptocurrency market. FTX wants to launch a retail product with Blockfolio soon.

What happened to FTX?

The deal gave FTX a 52% stake in the trading platform. FTT was at the center of the downfall of the company founded by Sam Bankman-Fried after CoinDesk revealed in early November that sister firm Alameda Research's balance sheet was full of the token, exposing the parlous state of its finances and the close ties between the two.