- Fomo has raised $75 million in venture capital at a $550 million valuation, led by Index Ventures, despite broader market pressure.
- A key regulatory shift shortly before the round clarified that non-custodial crypto apps don’t have to register as broker-dealers, removing a major hurdle for U.S. operations.
- The platform, which has attracted 650,000 signups, is betting that social features like public portfolios and leaderboards will drive the next wave of crypto adoption.
In March 2026, social trading platform Fomo secured a major $75 million funding round led by Index Ventures, achieving a valuation of $550 million. This significant investment occurred despite ongoing pressure in cryptocurrency markets and a slowdown in venture funding. Consequently, it highlights growing conviction that better trade discovery methods will fuel crypto’s next adoption wave.
A crucial regulatory change paved the way for this capital influx. Shortly before the round, U.S. regulators clarified that non-custodial apps like Fomo don’t have to register as broker-dealers. Investors like Jeff Barrington of Windsor Drake framed this as a race to own an audience now that the path is clear.
Founded in 2025 by former dYdX executives, the platform combines multi-chain trading with a real-time social feed. Co-founder Se Yong Park described its mission on the Bankless podcast as building “trading for the rest of us.”
The company has attracted roughly 650,000 signups, with about 30% converting into active traders. Notably, around 70,000 users entered through traditional fiat onramps rather than crypto-native rails. This suggests the platform is successfully reaching beyond crypto’s existing core audience.
Meanwhile, the trend toward social trading is reinforced by other companies. Robinhood recently launched Robinhood Social in beta, a feed for discovering and tracking traders. Paul Veradittakit of Pantera Capital noted that social trading can significantly improve high customer acquisition costs plaguing consumer fintech.
Femi Awomosu, head of product at Phantom Wallet, wrote that crypto has always been inherently social. As open networks mature, they make it easier to discover and learn from the world’s best traders. Consequently, Fomo’s latest funding suggests investors believe social feeds can win the next battle for users’ attention.
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