Fomo's $17 million raise and the rise of 'everything apps

Google announces integration with prediction markets Polymarket and Kaleshi

• Tether buys $100 million worth of BTC; Robinhood is considering adding BTC to its balance sheet

• Fomo app raises $17 million from Benchmark, releases web app teaser

💸 Fomo raises $17 million to build social-first everything trading app

Crypto trading is about to get even more social.

And some new high-level trends are starting to emerge...and converge in the trading space.

📌 What Happened

Fomo, a fast-growing retail trading app launched just six months ago, has closed a $17 million Series A led by Benchmark.

Benchmark led the round, but crypto veterans like Raj Gokal (Solana) and Balaji Srinivasan also participated.

Fomo started specifically with meme coin trading, focusing on UI and social factors like leaderboards, commentary, and followers.

Starting with Solana, it now allows users to trade millions of tokens across different chains without bridging or creating new wallets.

According to TechCrunch, the app has:

• 120,000 users since its launch in May

• Daily turnover of $20-40 million

• Daily revenue of approximately $150,000

All while operating with a minimal team.

🗣️ What They're Saying

“Their vision is clear: to make discovering and trading crypto assets easier.” — Chethan Puttagunta, Benchmark

“As soon as we added Apple Pay, users flooded in. That one move changed the entire direction.” — Paul Erlanger, Co-Founder of Fomo

🧠 Why This Matters

This was a major achievement for Fomo.

But more importantly, a new trend is emerging in trading, one that extends to crypto and TradFi.

Apps often focus on user experience in a single area—and then expand.

Robinhood's goal was to become the most user-friendly app for stock trading (and likely succeeded). Since then, they've expanded into crypto, prediction markets, and even games.

Fomo is taking a similar approach.

They started small by trading the Solana meme coin.

They were incredibly focused on creating a great user experience, and they're winning that battle. And now, they're starting to expand.

The first expansion was to memes and tokens across multiple chains, and the team has hinted at future plans for all types of marketplaces.

Another upcoming app on MegaETH called Euphoria is taking a similar approach, focusing more on tap trading for micro-second markets, and plans to expand further.