FTX Acquires Blockfolio for $150M in Retail Trading Strategy – August 26

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$11,340

Bitcoin price tapped the $11,100 mark today in a slip to the downside, recovering with a small bounce to the $11,300-$11,400 range.

Top-20 altcoins are down in value across the board, as Ethereum and XRP take a 2% hit each, Bitcoin Cash falls 3%, and Cosmos takes the largest loss of 6%.

Top Stories for August 26, 2020 🔥

👉 FTX Acquires Blockfolio for $150M in Retail Trading Strategy

Cryptocurrency exchange FTX has acquired crypto-tracker app Blockfolio, in a $150M deal involving cash and equity.

The move appears to be a strategy to bring in more retail traders, with FTX’s exchange currently being predominantly used by quants and professional traders.

Blockfolio will open the doors to more of a “mainstream and mobile audience”, with more than 6 million downloads to date.

👉 IRS Sends Out New Round of Warning Letters for Crypto Holders

Reports have been confirmed that the IRS has sent out a fresh round of letters to suspected cryptocurrency holders, warning that they must disclose their holdings.

The IRS sent out three versions of the letter last year, with the particular variation of the letter depending on the degree to which the recipient was obfuscating their transactions.

👉 New Compound Proposal Would COMP Farming as We Know It 

A new proposal submitted for DeFi’s Compound protocol would put an end to the current COMP token yield-farming craze, seeking to lock up future COMP distributions in a vesting mechanism.

Whereas COMP tokens can be obtained and traded almost immediately in the current system, the new proposal would have tokens released over a longer period of time – either at intervals or continuously over a set period.