M&A Deal Summary

FTX.US Acquires BlockFi

On July 1, 2022, FTX.US acquired financial services company BlockFi for 240M USD

Acquisition Highlights
  • This is FTX.US’s 1st transaction in the Financial Services sector.
  • This is FTX.US’s largest (disclosed) transaction.
  • This is FTX.US’s 4th transaction in the United States.
  • This is FTX.US’s 1st transaction in New Jersey.

M&A Deal Summary
Date 2022-07-01
Target BlockFi
Sector Financial Services
Buyer(s) FTX.US
Deal Type Add-on Acquisition
Deal Value 240M USD

Target

BlockFi

Jersey City, New Jersey, United States
BlockFi provide the wealth management platform designed to seamlessly manage crypto assets and provide credit services to markets with limited access to simple financial products. BlockFi was founded in 2017 and is based in Jersey City, New Jersey.

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Buyer(S) 1

Buyer

FTX.US

Berkeley, California, United States
Category Company
Founded 2018
Sector Business Services
DESCRIPTION

FTX.US is a US-regulated cryptocurrency exchange, built from the ground up. Its mission is to grow the digital currency ecosystem, offer US traders a platform that inspires their loyalty, and become the market-leading US cryptocurrency exchange by volume over the next two years. FTX.US was formed in 2018 and is based in Berkeley, California.

DEAL STATS #
Overall 4 of 4
Sector (Financial Services) 1 of 1
Type (Add-on Acquisition) 4 of 4
State (New Jersey) 1 of 1
Country (United States) 4 of 4
Year (2022) 3 of 3
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-21 Embed Financial Technologies

Vancouver, Washington, United States

Embed Financial Technologies is specializes in providing whitelabel brokerage services and APIs to broker-dealers and registered investment advisors. Embed Financial Technologies was founded in 2020 and is based in Vancouver, United States.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-25 LedgerX

Miami, Florida, United States

LedgerX is a CFTC regulated Designated Contract Market (DCM), Swap Execution Facility (SEF), and Derivatives Clearing Organization (DCO). LedgerX is available to both retail and institutional investors 24x7 and offers physical settlement of all contracts, block trading, and algorithmic trading opportunities for institutional investors. Since its launch, LedgerX has cleared over 10 million crypto options and swap contracts and pioneered the bitcoin mini contracts that enable granular trading. LedgerX was formed in 2017 and is based in Miami, Florida.

Sell -
Mergr

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