The fastest growing wallet in crypto has a raised a fresh new pile of cash.
What’s happening:
- Crypto wallet company Phantom has raised $150M USD in a Series C financing round
- The funding round was co-led by Sequoia Capital and Paradigm
Why it matters:
- Phantom has exploded to extreme cultural popularity, becoming the fastest growing wallet in the world for digital assets and rapidly onboarding new users
By the numbers:
- Phantom currently has more than 15M active users
- $25B USD in digital assets are currently in self custody on Phantom
Going deeper:
- Other prominent venture capital funds participated in the latest financing round, including both a16z and Variant
- While Phantom originally launched with a sole focus on the Solana blockchain, their wallet now supports Bitcoin, Ethereum and even Sui
The intrigue:
- Phantom has publicly stated that their recent trading volumes and revenue are larger than MetaMask and Coinbase Wallet combined
