94% of the Purchase of Blockfolio by FTX Was Funded with FTT Tokens

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The acquisition of a controlling stake in crypto portfolio management service Blockfolio by FTX in 2020 was paid for 94% in FTT utility tokens.

According to Bloomberg, the transaction took place in August 2020 and it was the largest in the history of the industry, as FTX bought a 52% of the company.

The funding reportedly came from a combination of cash, cryptocurrencies and equity, however, the companies did not disclose any further details.

The Financial Times released earlier this month information about the investments from FTX and Alameda Research. According to it, the companies had almost 500 positions in multiple companies.

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