Share this article
FTX's Blockfolio Stake Was Paid for Mostly in FTT: Bloomberg
Around 94% of the $84 million FTX paid for its majority stake in Blockfolio was in the FTT token it invented.
Updated May 9, 2023, 4:05 a.m. Published Dec 22, 2022, 9:23 a.m.
Bankrupt cryptocurrency exchange FTX used its own token, FTT, to fund the $84 million purchase of a majority stake in trading platform Blockfolio in 2020, Bloomberg reported Thursday.
Around 94% of the amount was in the token invented by FTX, according to the report, which cited financial documents. The deal gave FTX a 52% stake in the trading platform.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
FTT was at the center of the downfall of the company founded by Sam Bankman-Fried after CoinDesk revealed in early November that sister firm Alameda Research's balance sheet was full of the token, exposing the parlous state of its finances and the close ties between the two.
Bankman-Fried's crypto empire rapidly disintegrated and the disgraced former CEO now faces criminal charges in the U.S., including wire fraud, conspiracy to commit money laundering and violating campaign finance laws.
FTX did not immediately respond to CoinDesk's request for further comment.
Read more: SEC Calls FTT Exchange Token a Security
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
VanEck's new Avalanche ETF filing to include staking rewards for AVAX investors
The fund will use Coinbase Crypto Services as its initial staking provider and pay a 4% service fee, with rewards accruing to the fund and reflected in its net asset value.
What to know:
- VanEck has updated its filing for an Avalanche ETF, VAVX, to include staking rewards, aiming to generate income for investors by staking up to 70% of its AVAX holdings.
- The fund will use Coinbase Crypto Services as its initial staking provider and pay a 4% service fee, with rewards accruing to the fund and reflected in its net asset value.
- If approved, the fund will trade on Nasdaq under the ticker VAVX, tracking AVAX's price via a custom index, and will be custodied with regulated providers, including Anchorage Digital and Coinbase Custody.
Top Stories
