According to online reports, according to Cheeky Rolo's disclosure data, financing activities in the crypto market slowed down significantly in January 2025. A total of US$1.5 billion was raised by 125 publicly disclosed projects, and a total of 205 transactions were completed. Among them, World Liberty Financial's public token issuance accounted for one-fifth of the total financing amount in January, becoming one of the most watched financing events during the month. Against the backdrop of the overall market downturn, the $150 million Series C financing completed by crypto wallet Phantom has become a highlight, with a valuation of $3 billion. This round of financing was attended by top institutions such as Sequoia Capital, Paradigm and A16z Crypto. Analysts believe that in an environment of stricter supervision and frequent risk incidents on centralized exchanges, unmanaged wallet solutions are gaining the favor of more investors.