Blockfolio drives into the sunset, but it is the new dawn of the FTX App

The Blockfolio brand no longer exists: As one of the first real product brands in the cryptocurrency field, this mobile application that originally served as a portfolio tracker-later evolved into a trading application under the management of FTX-will now Adopt the name of its new owner.

Blockfolio, which has a user base of over 6 million crypto enthusiasts, was acquired Sam Bankman-Fried’s FTX trading company In August 2020, it is worth 150 million U.S. dollars.

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FTX CEO and cryptocurrency billionaire Sam Bankman-Fried said: “FTX rebranding: Blockfolio to FTX set the final ceiling for our acquisition of Blockfolio, further realizing that we have become the largest retail and institutional user. The promise of a cryptocurrency trading platform.”. “The renaming of Blockfolio demonstrates our commitment to mobile trading. This is just another step in our global brand development, which will allow us to bring new features to the market and improve the user experience. “

In the United States, traders will experience a “simplified” version of the FTX.US website through the application, which requires compliance with anti-money laundering and know your customer policies. Elsewhere, the app will redirect users to the FTX international trading platform.

related: FTX will receive the naming rights for the Miami NBA Stadium until 2040

“This is the end of an era,” said Blockfolio co-founder and former CEO Edmond Cada“This is indeed part of the history of crypto-the brand has achieved amazing success, and I am very proud of the number of people we have successfully entered the crypto space through Blockfolio. But as always, Sam and his team have really improved it To a new level, I think the time has come for this application to belong to the FTX umbrella.”

FTX continues to enter the mainstream through sponsorship in areas where there is a significant population overlap between cryptocurrency traders and potential retail audiences. Recently, FTX Become an official sponsor After obtaining the naming rights of the Miami Heat basketball court, he became a member of Major League Baseball.

FTX recently Raised 900 million US dollars In the B round of financing, investors include Coinbase Ventures and Sequoia Capital. Its current valuation is $18 billion.