What to know:
- In a shocking twist that no one saw coming (except maybe their mothers), crypto wallet infrastructure company Turnkey has raised a whopping $30 million in Series B funding, led by Bain Capital Crypto. Because who doesnāt want to throw money at a wallet, right?
- Turnkey, co-founded by former Coinbase employees Bryce Ferguson and Jack Kearney, is on a mission to help developers build user-friendly wallets using APIs. Yes, APIsāthose magical little things that make tech work while we pretend to understand them.
- With this new cash infusion, Turnkey plans to grow its headcount from a modest 35 employees. Because whatās better than a small team? A slightly larger team, of course!
So, hereās the scoop: Turnkey has snagged $30 million in Series B funding, courtesy of Bain Capital Crypto, as reported by Fortune on a typical Monday. You know, the day when everyone is just trying to survive until Friday.
Co-founders Bryce Ferguson and Jack Kearney are here to save the day, aiming to help developers create wallets that are as user-friendly as a golden retriever. Theyāre all about those application programming interfaces (APIs) that make everything easierālike a remote control for your life.
āWeāre moving from this world of slow, clunky systems designed for buying and holding crypto to very high throughput, machine-based transactions,ā Ferguson said, probably while sipping a latte and wearing a hoodie. Because thatās what tech people do, right?
Turnkeyās client list reads like a whoās who of the crypto world, including prediction market platform Polymarket, NFT marketplace Magic Eden, and Stripe-owned stablecoin firm Bridge. Talk about a power trio!
And letās not forget the funding also included contributions from Lightspeed Faction and Galaxy Ventures, who previously led Turnkey’s $15 million Series A in April 2024. Itās like a never-ending game of Monopoly, but with real money.
With this new capital, Turnkey is set to expand its engineering team. Because if thereās one thing we need more of in the tech world, itās engineers. Just donāt ask them to explain what they doāyour head might explode.
As for further comments? Well, the company didnāt respond to CoinDeskās request. Maybe they were too busy counting their money or perfecting their latte art.
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2025-06-09 15:44