ETF Weekly Flows: $129 Million Outflow for Bitcoin and $281 Million Inflow for Ether
Coinbase Alum-Founded Turnkey Raises $30M Series B to Grow Engineering Team
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Jamie Crawley
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By Jamie Crawley|Edited by Stephen Alpher
Jun 9, 2025, 12:21 p.m.
- Crypto wallet infrastructure company Turnkey has raised $30 million in Series B funding led by Bain Capital Crypto.
- Turnkey, which was co-founded by former Coinbase employees Bryce Ferguson and Jack Kearney, aims to help developers build user-friendly wallets using APIs.
- Turnley will use its new capital to grows its headcount, which currently sits at 35 employees.
Crypto wallet infrastructure company Turnkey has raised $30 million in Series B funding led by Bain Capital Crypto, Fortune reported on Monday.
Turnkey, which was co-founded by former Coinbase employees Bryce Ferguson and Jack Kearney, aims to help developers build user-friendly wallets using application programming interfaces (APIs).
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This can help wallets become more streamlined and easy to use, Ferguson said.
“We’re moving from this world of these slow, clunky systems that were designed for buying and holding crypto to very high throughput, machine-based transactions,” he said, according to Fortune’s report.
The company counts prediction market platform Polymarket, non-fungible token (NFT) marketplace Magic Eden and Stripe-owned stablecoin firm Bridge among its clients.
The funding also included contributions from Lightsped Faction and Galaxy Ventures, who led Turnkey’s $15 million Series A in April 2024.
Turnkey will use its new capital to grows its headcount, which currently sits at 35 employees. Principally, Turnkey is looking to expand its engineering team, according to the report.
The company did not immediately respond to CoinDesk’s request for further comment.
Jamie has been part of CoinDesk’s news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
