Blockfolio mobile trading app under the management of FTX is now renamed FTX, according to the CEO, this is just another step in expanding the brand globally.
In August 2020, Sam Bankman-FTX Fried’s Trading company paid $150 million for Blockfolio, which has a user base of more than six million crypto lovers.
FTX CEO and crypto billionaire Sam Bankman-Fried said, “The rebranding of FTX: Blockfolio to FTX puts the final cap on our acquisition of Blockfolio, doubling down on our mission to be the number one crypto trading platform for both retail and institutional users.”
“Rebranding Blockfolio demonstrates our dedication to mobile trading and is just another step in expanding our brand globally, allowing us to introduce new features and improve the user experience.”
Traders in the United States will use the application to access a “simplified” version of the FTX.US website, which requires adherence to anti-money laundering and Know Your Customer standards.
Users will be sent to the FTX international trading platform elsewhere in the app.
“It’s the end of an era,” said Ed Moncada, co-founder of Blockfolio and former CEO. “It’s truly a piece of crypto history – the brand had an incredible run, and I’m extremely happy of how many individuals we were able to bring into the crypto ecosystem through Blockfolio.”
But, as they usually do, Sam and his colleagues are pushing this to new heights, and I believe it was time for the app to join the FTX family.”
With sponsorships in places where there is strong demographic overlap between crypto traders and potential retail consumers, FTX continues to push into the mainstream.
After gaining the naming rights to the Miami Heat basketball stadium, FTX just becomes an official sponsor of Major League Baseball.
Coinbase Ventures and Sequoia Capital were among the participants in FTX’s recent $900 million Series B fundraising round. It is currently valued at $18 billion.