Phantom just bagged $150 million in its Series C funding round, and guess who’s leading the charge?
The big guns like Sequoia Capital and Paradigm. This fresh influx of cash has catapulted Phantom’s valuation to $3 billion.
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Fresh capital for more development
Brandon Millman, Phantom’s CEO shared they’re on a mission to make crypto more user-friendly and secure for everyone, and this latest funding will help them roll out some exciting innovations, including a new social discovery feature and easier peer-to-peer payments.
Sounds like they’re not just sitting on their laurels, but the plans are ready for the newly raised cash.
Phantom is currently riding high with 15 million monthly active users and handling over $20 billion in annual swap volume.
In fact, during the last two months of 2024 Phantom claimed its revenue and trading volumes were multiples higher than those of its competitors, like Coinbase Wallet and MetaMask, combined.
Serve a high demand market, make lotta money
And if you think that’s impressive, here’s a fun tidbit, as on November 20, Phantom briefly became the second-most popular app in the Apple App Store’s utilities section while the crypto market cap was flirting with the $4 trillion level.
On December 6, Phantom announced it would be integrating with the layer-1 blockchain Sui, its fourth blockchain partnership alongside Bitcoin, Ethereum, and Solana.
Phantom token on the horizon?
Founded back in 2021 in San Francisco by Millman, Chris Kalani, and Francesco Agost, they say Phantom isn’t just about wallets, but they also offer non-custodial services for users looking to secure their precious NFTs.
There are some bad news too. On January 3, Phantom shot down rumors about launching a token to go along with their upcoming social discovery feature set to debut in early 2025.
They clarified via a post on X that there are no plans for an airdrop tied to this feature.
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