The Blockfolio model does not exist: One of many first actual product manufacturers in the cryptocurrency sector, the Cell app, which began as a portfolio tracker – and was later converted directly into a buy and sell app under the direction of FTX – is now bear the name of its new homeowner.
Blockfolio, with a person base of more than six million crypto fans, was acquired by Sam Bankman-Fried’s FTX Buying and Selling Firm Value $ 150 million in August 2020.
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“The renaming of FTX: Blockfolio to FTX is the final word limit for our Blockfolio acquisition and doubles our commitment to be the premier crypto buy and sell platform for all personal and institutional clients,” said FTX CEO and crypto billionaire Sam Bankman-Fried. “The renaming of Blockfolio shows our commitment to cellular and is just another step in the global advancement of our model and can allow us to bring new options to market and improve the person’s expertise.”
In the US, the application provides retailers with a “simplified” model of the FTX.US website that requires adherence to Anti-Cash Laundering and Know Your Buyer tips. Elsewhere, the app directs customers to the FTX global buy and sell platform.
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“It’s the culmination of a period,” said Blockfolio co-founder and former CEO Ed Moncada. “It really is part of the historical crypto past – the model has had an incredible run and I am very pleased with the variety of individuals that we have now introduced into the crypto space through Blockfolio. But as always, Sam and his crew take this to a brand new level and I believe it was time the app came under the FTX umbrella. “
FTX continues to enter the mainstream with sponsorship in areas where there is important demographic overlap between crypto traders and potential retail audiences. FTX recently became an official sponsor of Main League Baseball after securing the naming rights to the Miami Warmth basketball stadium.
FTX recently raised an additional $ 900 million in a Collection B round of funding with traders like Coinbase Ventures and Sequoia Capital. It currently has a valuation of $ 18 billion.