Venmo Crypto
Venmo Crypto: Mobile crypto application for trading, investing, or Web3 access.
ABAB Structured Brief
Venmo Crypto is indexed in ABAB Crypto Map under Mobile Apps. This page keeps the official site, category, tags, and related ABAB coverage together as a searchable crypto project profile. Official domain: venmo.com.
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Valuation of $550 million, weekly fee income of $2 million: FOMO founder Seyoung deeply analyzes cross-chain seamless transactions, public chain psychology, and community leverage
"Building the Social Media for Crypto (FOMO Founder Interview)" (Maurits Markets podcast interview with Seyoung, co-founder of the crypto social trading platform FOMO), here are the key points summarized: 1. The explosion of the FOMO platform and core business data • Data and financing: FOMO currently has about 1.3 million users, recently maintaining a growth rate of about 30,000 new users per day; weekly fee income has surpassed $2 million, with the latest financing valuation reaching $550 million. • The difficult journey from 0 to 1: Despite early support from 140 angel investors, the number of active users was very low in the initial months. The core breakthrough was to focus on the initial 500 to 5,000 geek users, collecting feedback frequently and iterating the product quickly, rather than blindly pursuing initial user numbers. • First principle: Shifting from "token/public chain-based" to "fiat/USD-based": • Ordinary users (Normies) are extremely resistant to and confused by using volatile assets like SOL and ETH as the underlying accounting unit. If they deposit $100 and see it drop to $98.5 the next day (even if the number of tokens remains unchanged, just due to the public chain token's decline), they will develop a trust crisis thinking "the platform is stealing my money." • FOMO adopts a fiat/USD unified settlement, smoothing out public chain friction and cross-chain bridge (Bridging) thresholds (reducing cross-chain transaction targets to a 1-second level), allowing users to not worry about Gas fees, wallets, RPC, or different public chain bases. 2. Social Trading and Clan mechanisms • Traders as "new era stars": • In the past, P&L (profit and loss charts) were easily questioned for being fake or photoshopped; FOMO empowers truly excellent traders with absolute authority (Authority) and "Aura (personal reputation/charisma)" through transparent on-chain leaderboards and smart data scraping. • Believing that within the next 6 months, multiple top players with tens of millions (8-digit) P&L will appear on the FOMO clan leaderboard, creating a new generation of native crypto idols. • FOMO Clans feature: • Trading is essentially a competitive and team collaboration game (PvP and team formation). Clans allow traders to establish publicly transparent guilds/clans, share clan treasuries, publish research newsletters, and receive exclusive airdrops, transforming previously hidden private alpha trades in Telegram/Discord into public social capital. 3. The future of the crypto market and the pan-financial platform • Not just a "crypto company": FOMO's ultimate positioning is as the "Social Graph of Finance". In the future, it will not only support crypto assets but also expand to US stocks, prediction markets, and broader financial targets. • Embracing competition: Not afraid to compete with Robinhood, Coinbase, or traditional trading terminals (like GMGN, Axiom). As board members say, "A company's biggest survival crisis is never having experienced a crisis"—if destined to fail, it is better to iterate through brutal competition now. 4. Seyoung's Mount Rushmore (top traders and top creators) • Mount Rushmore-level traders: 1. GCR: An absolute legend (Goat), with legendary depth and very little exposure. 2. Cobie: An early visionary trader with pure conviction. 3. Flood: A representative with high conviction and credibility in long-term targets like Hyperliquid (Hype). 4. Ansem: A recognized volume and trend controller, daring to bet at the bottom/top. 5. Chaingey: The number one on the FOMO leaderboard, a native rising star based on real account strength. • Top content creators: • Rasmer (real trading and personal brand explosion), Thread Guy (transitioning from NFT to professional financial early broadcast), Orangie (a strong onboarding engine), Ansem (a dual king of trading and content). 5. Founder philosophy and personal workflow • An extremely focused founder's life: • Wakes up every morning at 5-6 AM, uses quiet time for thinking and exercising; then enters a long 16-17 hour online state (handling Twitter/Telegram messages, product feedback, product development). • Founding a company is the heaviest commitment besides marriage and having children, requiring full dedication. • A low-key material view and legacy: • Wears a low-key Casio watch, maintains restraint towards luxury brands. Money, fame, and short-term P&L are temporary; only the lasting impact on the industry and users (Legacy) is permanent.