Phantom crypto wallet raises $150M in Series C at $3B valuation
Phantom, a digital asset wallet, announced it has raised $150 million in a Series C funding round, reaching a valuation of $3 billion. The round was led by Sequoia Capital and Paradigm, with participation from Andreessen Horowitz and Variant. Phantom's CEO, Brandon Millman, stated that this funding will enhance their mission to make crypto more accessible and modernize consumer finance. Phantom plans to invest the funds into innovation and to improve peer-to-peer payment services. The valuation reflects a 150% increase from its previous Series B funding in January 2022. Currently, Phantom has 15 million monthly active users and processes over $20 billion in annual swap volume, claiming significantly higher revenue than competitors like Coinbase Wallet and MetaMask. Phantom supports Bitcoin, Ethereum, and Solana networks and is preparing to integrate additional blockchains. Founded in 2021 in San Francisco, Phantom emphasized it does not plan to launch a token as the market speculated about an airdrop connected to a forthcoming social discovery feature.
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