fomo, a New York-based social trading platform for on-chain markets, has acquired proprietary software and intellectual property from Mobula, an on-chain data aggregation and infrastructure company.
As part of the acquisition, several members of the Mobula team will join fomo to help strengthen its on-chain data capabilities, infrastructure, reliability, and performance.
The deal comes as fomo continues to grow rapidly. Its user base has more than doubled since the beginning of July to over 1.9 million users, while the platform is adding more than 30,000 new users each day. More than 1.2 million users were active on the platform in August.
fomo’s trading activity has also increased significantly. Trading volume rose from $500 million in June to $1.5 billion in July, and the company expects August volume to exceed $2.8 billion.
The acquired Mobula technology will allow fomo to develop more of its on-chain data infrastructure internally instead of relying on multiple external providers.
Mobula co-founder Sacha Marcus, CTO Sacha Delhoux, and Head of Infrastructure Cyril Conan will join fomo’s engineering team.
“As fomo scales, we’re investing in technology that will support the next phase of the business,” said Paul Erlanger, co-founder and CEO of fomo. “Mobula has built exceptional on-chain technology, and acquiring these assets gives us greater control over our infrastructure as we continue to expand the platform.”
“We built Mobula with the goal of making on-chain data and infrastructure faster, more reliable and easier to build on,” said Sacha Marcus, founder of Mobula. “Joining fomo gives us the opportunity to take that technology further and build it directly into one of the fastest-growing consumer platforms in crypto. We’re excited to bring the team and technology together and see what we can build at this scale.”
fomo is also expanding its platform with social features, including leaderboards, creator tools, Clans, Web trading, and Perpetuals. The company aims to combine trading, asset discovery, and social interaction into a simpler experience for on-chain traders.
Founded in 2025 by Erlanger, Prashan Dharmasena and Seyong Park, fomo allows users to discover assets, follow traders, share positions and trade across blockchain ecosystems through a single account and balance.
The company backed by several investors including Index Ventures, Union Square Ventures, and Benchmark.
