New Revelation: FTX’s Acquisition of Blockfolio Paid in FTT Tokens Which are Now Virtually Worthless – Here’s What You Need to Know

When the now-bankrupt crypto exchange FTX acquired the crypto mobile app Blockfolio, payment was not made in cash but instead in the form of FTX’s own FTT tokens, financial statements have revealed. According to Bloomberg, which said it has obtained financial statements from FTX, about 94% of the Blockfolio acquisition was paid for in FTT tokens. The amount paid was roughly $84m for a 52% equity stake in Blockfolio.... Read More: New Revelation: FTX’s Acquisition of Blockfolio Paid in FTT Tokens Which are Now Virtually Worthless – Here’s What You Need to Know