Phantom Wallet Secures $150 Million Funding Round

Phantom Wallet has raised $150 million and attained a $3 billion valuation, as stated in a recent announcement. The Series C funding round was led by Sequoia Capital and Paradigm, with participation from a16z and Variant.

Co-founder and CEO Brandon Millman remarked, “The wallet’s rise in popularity shows that there’s a broader trend in which more people are buying crypto directly with their digital wallets instead of using Coinbase Global Inc.’s exchange and other centralized platforms,” according to Bloomberg.

The company reports having 15 million monthly active users and $25 billion in self-custody assets. In November, the crypto wallet app ranked ninth among the top free iPhone apps.

“With these new resources, we plan on making bigger bets to accelerate crypto adoption and become the world’s biggest and most-trusted consumer finance platform,” the company stated, highlighting that Phantom Wallet “has become the most dominant crypto wallet in the world, thanks in large part to Solana.”

Phantom Wallet’s funding round appears to be the biggest of 2025 in the crypto sector. This week, Sygnum Bank also announced a successful raise of $58 million in a strategic growth round.