Cryptocurrency derivatives exchange FTX has purchased cryptocurrency portfolio tracker Blockfolio for $150 million, according to a blog post published on August 26.

• The $150 million purchase will be a combination of cash, equity and cryptocurrencies
• FTX is a derivatives platform aimed at professional traders and this purchase is an attempt to break into the retail market
• Blockfolio announced a new retail trading experience in the same post, which will aid FTX’s effort to improve its retail presence
• FTX will seek to leverage Blockfolio's 6 million strong user base on the Android and iOS platforms
• The retail trading application will be powered by FTX’s technology
• The acquisition is one of the biggest of 2020, though short of Binance’s $400 million acquisition of CoinMarketCap in April 2020
• FTX has received investment from the likes of Binance and Liquid Value Capital, the former investing an undisclosed sum as lead investor