An inside look at FTX’s $150 million acquisition of Blockfolio

Episode 36 of Season 2 of The Scoop was recorded remotely with The Block’s Frank Chaparro, Blockfolio co-founder Ed Moncada and FTX’s Sam Bankman-Fried. 

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Last week, FTX announced it would acquire crypto data tracking app Blockfolio for $150 million. As reported at the time, FTX is looking to leverage the Blockfolio acquisition to expand its retail footprint and built on the community of users the app has generated thus far.

In this episode of The Scoop, Blockfolio co-founder Ed Moncada and FTX's Sam Bankman-Fried talk about the logic behind the deal and what they plan to build together in the future.

The pair also talks about the growing decentralized finance (DeFi) movement and how Jump Trading is going to play a big part in FTX's upcoming decentralized exchange, Serum.

The conversation also touches on:

  • The origin of the FTX/Blockfolio deal
  • How FTX is attempting to approach products with more precision as the market floods with tokens and how that's changed product goals in the past month
  • Why the firms see their coming product as a "token agnostic" application
  • How they're ensuring the large retail base won't get on the wrong side of a trade
  • Their take on today's mania in relation to previous bull market moments and how it relates to their deal

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Aislinn Keely joined The Block in the summer of 2019. She is a member of the outlet's policy team, holding down the legal beat. Before The Block, she lent her voice to the NPR affiliate WFUV, where she reported and anchored newscasts in addition to some podcast work. Aislinn is a proud Fordham Ram and editor-in-chief emerita of its newspaper. When she isn't writing or reporting, Aislinn is running and rock climbing.