Cryptocurrency exchange FTX is acquiring portfolio tracking app Blockfolio in $150m deal

FTX, the cryptocurrency exchange, is acquiring portfolio tracking app Blockfolio in a deal worth $150m.

Although, TechCrunch reports that the price is made up of a combination of cash, cryptocurrency and stock that “might not be perfectly liquid.”

FTX also enables professional traders to trade on futures markets.

Blockfolio enables customers to track their portfolio of cryptocurrencies.

The news comes after FTX scored a $8m funding round in August 2019.

The cryptocurrency and blockchain segment of the FinTech sector has slumped recently after enjoying an all-time high of investment in 2018. That year the sector enjoyed $7.62bn of investment across 145 investment rounds, according to FinTech Global’s data. However, the total value of the funds raised crashed in 2019 to $3.11bn across 161 deals. By the end of the first half of 2020, the sector had raised $578.2m across 53 deals. Copyright © 2020 FinTech Global

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