Cross-chain trading app Fomo raises $17 million in round led by Benchmark
Quick Take Fomo said it has “processed nearly $700 million in volume” and onboarded more than 120,000 users during its beta.
New cross-chain trading app Fomo said on Thursday it raised $17 million in a Series A round led by Benchmark.
"While crypto infrastructure has consistently improved, user experience has remained an afterthought. This has led to fragmentation—incompatible chains, wallets, liquidity, and users scattered across ecosystems," Fomo said in a blog post .
Calling itself the "largest cross-chain trading application in crypto," Fomo said it has, during six months of beta, "processed nearly $700 million in volume" and onboarded more than 120,000 users and over 35,000 traders.
Also on Thursday, major blockchain projects including Solana, Fireblocks, Monad and Polygon formed an alliance to develop a common framework for cross-chain payments .
Fomo said its app lets users maintain a single balance across multiple chains without dealing with bridges or gas fees. It charges a 0.5% fee per trade, with a $0.95 minimum on Solana transactions and no minimum on lower-cost networks like Base and BNB Chain, according to TechCrunch .
"Benchmark has a proven track record of backing bold, world-changing consumer products like Uber, Snapchat, Instagram, and Twitter," Fomo said in its statement.
Angel investors joining Fomo's Series A include Pudgy Penguins CEO Lucas Netz and MoonPay CEO Ivan Soto-Wright. The startup has raised a total of $19 million.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin News Update: Bitcoin Drops Under $100K Amid Diverging Analyst Opinions on Market Direction
- Bitcoin dropped below $100,000 on Nov. 7, driven by macroeconomic risks and $2B+ ETF outflows amid U.S.-China tensions and Fed inaction. - Analysts highlight $113,000 as critical resistance and $100,000 as key support, with breakdowns risking $88,000 liquidation levels. - Institutional views diverge: Ark Invest cut targets to $120,000 while JPMorgan raised fair value to $170,000 amid shifting adoption narratives. - Market eyes December's "Santa Rally" potential but recovery hinges on Bitcoin holding abov
Bitget Connects Speculation and Risk Control through STABLEUSDT Futures
- Bitget launched STABLEUSDT pre-market futures with 25x leverage, offering 24/7 trading since Nov 6, 2025. - The contract features 4-hour funding settlements and 0.00001 tick size to enable flexible positioning. - As the world's largest UEX, Bitget aims to boost market depth for emerging tokens through strategic liquidity initiatives. - Partnerships with LALIGA/MotoGP and a $2M loan program highlight its mission to democratize crypto access. - Risk warnings emphasize volatility concerns for leveraged prod
Token Unlock Releases and Large Holder Sell-Offs Drive Ethena's 80% Value Decline
- Ethena's ENA token dropped 80% to $0.31 amid massive unlocks and whale selling, with 45.4% of tokens released in November. - Robinhood listing and Binance's USDe buyback program offer limited support as 6.8B tokens circulate and 5.99B remain locked until 2026. - USDe's $8.9B TVL and multi-chain expansion highlight potential, but technical indicators signal a possible 37% further price decline. - Analysts warn ongoing unlocks, whale activity, and crypto market volatility could prolong ENA's bearish trend
Web3 Rewards Program Fuels Surge in TWT and 1INCH
- Trust Wallet's TWT and 1INCH tokens gain momentum as Trust Premium loyalty program boosts user engagement and on-chain activity surges. - TWT trading volume rises to $32.98M while 1INCH hits $110.86M weekly volume, supported by technical indicators and ecosystem integrations. - TWT stabilizes above $1 with key resistance at $1.2935, while 1INCH tests $0.2330 level amid bullish MACD and RSI signals. - Trust Premium's tiered rewards and 1inch integration create flywheel effects, linking user activity direc
Trending news
MoreCrypto prices
More
