Tag: Blockfolio

FTX Acquisition of Blockfolio Was Mostly Funded with FTT Tokens

The FTT token was also a major factor in the implosion of FTX. New details about the investments of FTX Derivatives Exchange into BlockFolio, a crypto brokerage firm have been published by Bloomberg. According to the media firm, FTX financed over 94% of the $84 million it paid for the platform using FTT, a digital token it created. With the funds paid, FTX took a 52% stake in BlockFolio in 2020 and the bankrupt exchange which at the time was only a year old had the option to buy up…

FTX CEO claims competitor responsible for racist messages delivered to Blockfolio users

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On February 9, Blockfolio’s Signal feed was briefly compromised, resulting in some users receiving racist messages within the company’s app. Users said that the culprits went so far as to threaten loss of funds if deposits were not removed from the crypto portfolio platform. While the derogatory messages were reportedly scrubbed by Blockfolio’s security team within about 30 minutes, the incident left many wondering how such an attack could have occurred. Tweeting on Tuesday, SBF offered updates about the incident, alleging that a competing exchange was to blame. 1) We’re really sorry…

Hackers post racist and offensive messages to Blockfolio users

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Some Blockfolio users received shocking messages from the app on Tuesday in what has now been confirmed as a breach of the platform’s signal feed. The hackers responsible for the breach sent racist and offensive messages, threatening them to withdraw their funds or risk losing their deposits. Responding to the matter, Blockfolio released a tweet apologizing for the incident while assuring users of the safety of their funds. According to Blockfolio, the breach only affected the signal submitter protocols and not the actual trading environment. The platform also promised to…

FTX buying Blockfolio continues consolidation trend in crypto industry

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The past few months have seen a number of major crypto companies facilitate some serious big-money acquisitions. For example, on Aug. 25, blockchain software firm ConsenSys bought out JP Morgan’s enterprise-variant of the Ethereum blockchain Quorum. Similarly, earlier this year, global cryptocurrency exchange Binance announced that it was acquiring CoinMarketCap, one of the most referenced crypto data websites. In this regard, crypto derivatives exchange FTX, too, announced on Aug. 26 that it had recently come to an agreement with Blockfolio to take over the digital asset portfolio tracker for a…

31% of Blockfolio Users Say Know Nothing of DeFi

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Despite an increasing number of Decentralized Finance (DeFi) projects, people are still unsure what DeFi is exactly, a poll conducted by portfolio tracker Blockfolio showed.  The poll, conducted over its Signal product, asked the level of involvement users have around DeFi. It received 8,897 votes, with 31% of respondents answering they don’t know what DeFi is or have no involvement at all. Those who said they are curious and want to learn about DeFi numbered at 39%. Only 10% of respondents said they have high-farming yields and 19% are new…

Years-Old Cybersecurity Vulnerably Exposed in Blockfolio

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As of April 22, there are approximately 5,400 cryptocurrencies being traded with a market value of $201 billion United States dollars. The 24-hour daily trading volume has recently been hovering around $100 billion, a key indicator of the sector’s ongoing growth and active investor participation. It is a well-known fact that cryptocurrencies are among the most fickle assets available, making it virtually impossible to monitor their fluctuations on a continuous basis. Fortunately, we have seen a number of cryptocurrency portfolio trackers being developed and accepted into the market since 2017.…

Blockfolio and TokenTax Join Forces to Make Taxes Easier

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The deadline for filing 2019 taxes in the United States is quickly approaching. Even for those declaring traditional income, the process can be lengthy to say the least. One of the biggest challenges for crypto holders in the US and beyond is how to declare their crypto assets and not run afoul of the IRS. Tax Season for Cryptocurrency Holders Made Simpler  Blockfolio and Token Tax are trying to make this process easier for US residents. TokenTax is a platform for crypto investors which can analyze data from crypto transactions…

After Crypto Giants Bitmain & ShapeShift Cut Staff, So Does Blockfolio

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Although 2019 has dawned, the crypto “nuclear winter” of yesteryear has yet to entirely abate. Just weeks after Bitmain, ConsenSys, ShapeShift, Huobi, among other Bitcoin-related startups, cut a number of their staff, Blockfolio, which manages one of the most used applications in the industry, also had to wave goodbye to talent. Related Reading: Legendary Venture Capitalist: “We’re Close to a Crypto Nuclear Winter” Blockfolio Shrinks Team In October, Edward Moncada, the chief executive at crypto services provider Blockfolio, took to his company’s Medium to reveal that a number of financiers sent…

Project PAI Blockchain Protocol and Blockfolio Signal Beta, Create Platform for AI-Powered 3D Avatars

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A blockchain protocol that enables anyone to create, own and manage their own personal artificial intelligence is available now on Blockfolio Signal Beta and is called Project PAI, a decentralized platform created specifically for Personal AI. advertisement The new platform is able to interact with decentralized applications meant for PAI-centric uses in everyday life such as virtual assistance, healthcare, social networking and entertainment. It is allowing everyone in the world to create, own, and manage their own PAI while simultaneously retaining control of their own personal data. As one of the…