Share this article
Blockfolio Apologizes After Racist Terms Posted in Portfolio App
A "Signals" account has been blocked after making racist posts available to all users of the app.
Updated May 9, 2023, 3:15 a.m. Published Feb 9, 2021, 9:26 a.m.
Make us preferred on Google
Blockfolio has apologized after racist posts were distributed over its cryptocurrency portfolio and news app.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Overnight, at least two messages purporting to be from major cryptocurrency platforms were posted containing racist terms of abuse via "Signals" – Blockfolio's communications feed to allow token projects to "connect and engage with their communities."
In a tweet Tuesday morning, Blockfolio said it was "incredibly sorry about the offensive messages posted today.”
The firm said no funds were affected and the event did not affect any trading features. "We have revoked access to the compromised Signal submitter and removed the messages," it said.
We are incredibly sorry about the offensive messages posted today.
— FTX (formerly Blockfolio) (@ftx_app) February 9, 2021
1: no funds/etc. were affected; this did not interact with any trading features.
2: we have revoked access to the compromised Signal submitter and removed the messages.
Sam Bankman-Fried, CEO of the FTX exchange that owns Blockfolio, tweeted that all the app's trading accounts are being given $10 by way of an apology.
"No members of the Blockfolio team wanted this to happen," he said. "But we are all responsible for our product and will be doing what we can to fix this. I'll also be donating to the ACLU today, as will a number of other staff members."
Read more: Portfolio App Blockfolio Adds Crypto, Stock Trading to Capitalize on GameStop Drama
CoinDesk asked Blockfolio what specifically it plans to do to prevent such abuse of the Signals system in future, but did not immediately receive a reply.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Coinbase CEO says Big banks now view crypto as an ‘existential’ threat to their business
Brian Armstrong returns from World Economic Forum with message: traditional finance is taking crypto seriously
What to know:
- Coinbase CEO Brian Armstrong said a top executive at one of the world’s 10 largest banks told him crypto is now the bank’s “number one priority” and an “existential” issue.
- At Davos, Armstrong highlighted tokenization of assets and stablecoins as major themes, arguing they could broaden access to investments for billions while threatening to bypass traditional banks.
- He described the Trump administration as the most crypto-forward government globally, backing efforts like the CLARITY Act, and predicted that AI agents will increasingly use stablecoins for payments outside conventional banking rails.
Top Stories
