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Phantom Raises Mega Funding Round For Crypto Wallet Dominance

January 16, 2025
x min read
Phantom crypto wallet
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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

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