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Finance

FTX Renames Blockfolio Trading App to ... FTX

The trading app, which was acquired by FTX in 2020, now bears its owner's name.

By Zack Seward
AccessTimeIconJul 28, 2021 at 5:33 p.m. UTC
Updated May 9, 2023 at 3:22 a.m. UTC
Images of the Blockfolio app from early 2021.
Images of the Blockfolio app from early 2021.

Fresh on the heels of the largest funding round in crypto history, FTX is getting its branding in order.

The crypto exchange helmed by Sam Bankman-Fried is slapping its name on the Blockfolio trading app it acquired in May 2020 for $150 million, killing a clunky colon in the process.

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    • "The rebrand of FTX: Blockfolio to FTX puts the final cap on our acquisition of Blockfolio, doubling down on our commitment to being the number one crypto trading platform for both retail and institutional users,” Bankman-Fried said in a press release.

    FTX’s $900 million Series B valued the company at $18 billion, speaking to investors’ belief in the grand ambitions of an exchange that sprouted up in Hong Kong just two years ago.

    Unifying its brand identity would seem to follow suit as FTX looks to rival Coinbase and others for retail traders. The move comes after FTX has spent lavishly on sports sponsorships, putting its three letters on everything from arenas to umpires.

    Disclosure

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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

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