Solana’s Phantom Receives $150 Million in Latest Funding
Phantom announced today that it has received US$150 million in Series C financing and plans to become the world’s largest consumer finance platform.
The company plans to do more by making more acquisitions and outright acquisitions of smaller companies, building infrastructure and Safety.
Phantom Wallet’s latest round of funding
phantom wallet, Non-custodial wallet widely used in the Solana ecosystemwhich has previously used several major rounds of funding to set ambitious goals. About a year after the company was founded Received US$109 million in cash injection and use it to Further promote multi-chain strategy.
Phantom is still expanding this, SUI was added last monthnow it has set an even more ambitious goal Target.
“Our mission has always been to make cryptocurrency more accessible, intuitive and secure for everyone. This latest round of funding allows us to further invest in innovation and ultimately modernize consumer finance.” Co-Founder and CEO Brandon Millman said.
All in all, Phantom Wallet hopes to capitalize on this funding round Challenge traditional financial (TradFi) institutions. Specifically, it will use the latest funding to strengthen its strategic partnerships and direct acquisitions.
Its recent acquisitions have played a “pivotal role” in building new infrastructure and security, and Phantom hopes to go even further.
Earlier this month, FalconX CEO Predicting a wave of consolidation in the cryptocurrency industry due to favorable market conditions. This plan certainly fits that trend.
The funding Phantom received in this round of financing is in line with some The biggest investments of 2024whose supporters include Famous names like a16z. The platform’s revenue also continued to grow last year.
Although it has set ambitious goals, a successful funding round may not solve all of Phantom’s challenges. Last August, the company suffered a Widespread glitch shows incorrect balance on the user account.
In less than two months, we encountered difficulties Another major technical issuewhich greatly contributed to the community’s frustration.
Ultimately, there are still no specific details on how Phantom will spend the $150 million. Its most specific stated goal is to accelerate cryptocurrency adoption and challenge TradFi.
In the short term, Phantom hopes to attract new users, starting with social discovery features, and simplify peer-to-peer payments.
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