PANews reported on May 21 that Solana wallet Phantom has acquired the wallet-as-a-service platform Bitski, which is backed by prominent investors such as Andreessen Horowitz (a16z) and Galaxy Digital. As part of the Bitski acquisition, Phantom plans to introduce embedded wallets to Solana to provide an easy onboarding experience similar to web2. Users will soon be able to register and log in to Phantom using only their email addresses. Phantom co-founder and CEO Brandon Millman stated that the Bitski team, including its co-founders, will join Phantom and expand its current team of over 80 members.

Bitski has currently raised at least $25.5 million in funding, with investors including a16z, Galaxy Digital, Coinbase Ventures, Winklevoss Capital, Kindred Ventures, American billionaire rapper Shawn "Jay-Z" Carter, and former American professional tennis player Serena Williams. To date, Phantom has raised a total of $118 million in funding, with investors including a16z, Paradigm, Solana Ventures, Variant, and Alliance.