General Crypto
September 4, 2026
Cosmos Labs Hack Exposes Bug Reported in April That Drained $5.7M Across 6 Chains
- The Fomo Crypto App is bringing Social Crypto Trading to Cross-Chain Crypto arena in a simpler way
- Its social approach makes it easier to discover what other traders are watching and trading
- The $75M funding round gives Fomo room to expand its platform and broader financial ambitions
Crypto trading has traditionally been built around charts and order books. The idea has been restricted towards keeping it strictly one-dimensional, limited to price movements and trend observations. But the Fomo Crypto app is trying to change this narrative. This app is trying to add another unique layer to this by making other traders a part of the process too. The idea is simple. To make crypto a part of a community narrative rather than an independent ordeal.
The Fomo Crypto app is combining the on-chain trading services with the idea of social feeds. This means that the users can see what other people are holding in terms of assets, like a typical social media feed. This idea has led the platform to attract significant venture capital. Fomo has raised $75M in Series B funding led by Index Ventures, at a $550M valuation. Let’s explore in depth what this cross-chain trading app is all about.
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What is the Fomo Crypto App All About?
The Fomo Crypto app was founded in 2025 by Paul Erlanger, Se Yong Park and Prashan Dharmasena. These three founders had earlier worked at dydx and had decided to build this app to try to solve a problem that the crypto users had been facing for a while, which is related to complex crypto trades. A crypto trade is complex to begin with. A user needs to first understand wallets, network, bridges and gas fees before proceeding ahead with the transaction. The Fomo crypto app is trying to bring ease in this arena.
The Fomo crypto app states that its users can sign into the app using an Apple ID or an email. They can also access assets across supported chains without manually dealing with bridges or gas fees. The platform automatically handles routing and liquidity behind the scenes.
This development is particularly relevant to cross-chain crypto trading, where moving assets between networks can require multiple transactions and rerouting.
The Fomo trading app is also a non-custodial app. This means that the app is designed to help users take control of their own assets. This simply means that the users need not hand over the assets to any centralised exchange.
Crypto Social Feed As A Novel Feature
Fomo Crypto App Features
| Feature | What It Does |
|---|---|
| Cross-Chain Trading | Trade assets across supported blockchains from one platform. |
| Social Feed | See what other traders are buying, holding, and trading. |
| Copy Trading | Follow other traders and use their activity as a trading signal. |
| No Bridge Management | Access supported assets without manually moving funds between chains. |
| Gas Abstraction | Fomo handles much of the gas and transaction complexity in the background. |
| Trader Leaderboards | Compare trader activity and performance through rankings. |
| Token Discovery | Discover trending tokens through the trading feed. |
| Non-Custodial | Users retain control of their assets rather than depositing them with an exchange. |
The most distinctive part of Fomo is arguably not its cross-chain infrastructure. The crypto trading app is primarily known for its design supporting a crypto feed.
In this app, users can see trading activity of other participants, follow traders and view positions. They can also view positions and performance through the feeds’ leaderboards. Fomo later shared that its app has been built around public on-chain activity. This simply means that this allows users to view what other users are doing in real time.
Copy Trading As Fomo’s Striking Feature
Fomo crypto app supports a social crypto narrative. As the app helps users to see what others are buying or holding, this creates a new knowledge app for users. Users can discover new tokens after seeing others holding them, as the app allows the users to see each other’s portfolios. This social structure can also enable copy-trading-style behaviour, allowing users to use the activity of other users/traders as an inspiration for their own decisions.
Fomo Cross Crypto Trading App is designed as a social feed, making a user’s crypto trading highly visible to others. This development can deliver social proof, but it is not the same as independent research.
Fomo’s Growing User Base and $75M Funding: What If Means
The Fomo crypto trading app has ended up attracting venture capital investment from Index Ventures. This is significant to note as Index Ventures is known as a major tech investor rather than a crypto investor. This investment indicates that some mainstream venture investors are viewing onchain crypto trading as a broader opportunity to explore in depth.
The crypto trading app has recently shared that nearly 625,000 people have joined Fomo. The app is generating $4B in trading with 110M in unique social interactions. It later said that nearly 68,000 users purchased crypto for the first time through Fomo using Apple Pay.
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Who Is Fomo For?
The Fomo Crypto app supports two types of groups. The first group is targeting beginners, the ones who want to explore crypto without having to learn the intricacies of it. Intricacies here refers to learning about networks, bridges and gas fee mechanisms.
The second group that this app may prove to be useful for is for traders who want a faster crypto trade with minimal hassles. It also helps in token discovery, making traders more aware of new token trends.
Why Fomo Matters?
What Sets Fomo Apart
Trading Meets Social Discovery
Fomo uses public on-chain activity to let users discover assets and see what other traders are doing.
Real-Time Trader Visibility
Users can follow traders, view portfolios, track positions and see performance through public leaderboards.
Consumer-First Onboarding
Users can sign up with an Apple ID or email and access the platform without handling traditional wallet setup.
Built Beyond Crypto
Fomo plans to expand into additional asset classes, including equities, perpetuals and prediction markets.
The broader financial market is increasingly experimenting with putting financial assets on-chain. With treasuries, equities and currencies increasingly being explored on-chain, Index Ventures has posed a viable question. The consumer experience has struggled to keep pace, lagging behind such innovations.
Fomo crypto trading app is built to support that gap. It does not ask the users to become blockchain experts. It abstracts much of the underlying infrastructure from the user experience, keeping the important elements visible.
The Pros and Cons
Fomo Crypto App: Pros and Cons
Pros
- Strong early user adoption and trading activity.
- Backed by established venture capital investors.
- Potential to expand into a wider range of financial markets.
Cons
- Limited track record as a relatively new platform.
- Faces competition from established crypto exchanges.
- Long-term user retention and business sustainability remain unproven.
Each coin has a good and a bad side, and the Fomo crypto app is no exception. On the plus side, the app offers a simple interface built for on-chain trading, along with cross-chain trading that doesn’t require manually accessing bridges. It abstracts away gas and routing complexity from the user experience, and it includes a social feed for tracking token trends and portfolios, all while remaining non-custodial.
That said, there are drawbacks. Social trading features can encourage herd behavior and may trigger speculative trading among users. The app also competes with major exchanges and established trading platforms. And while it simplifies cross-chain activity, it doesn’t remove the underlying market and smart contract risks involved.
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