Phantom recruits Ventuals team to accelerate derivatives push

The acquisition marks a strategic pivot for Phantom, which is aggressively transitioning from a standard self-custody wallet into a multifaceted financial platform. By folding in the Ventuals trio, the company aims to solidify its position as the primary distribution partner for the Hyperliquid ecosystem. CEO Brandon Millman confirmed the hires will focus on scaling perpetual futures products, leveraging the team's experience in building markets for private-company valuations.

This expansion arrives as perpetual futures—contracts that allow traders to bet on price movements without an expiration date—see increased adoption outside of traditional crypto-native exchanges. With competitors like Kalshi recently entering the space, Phantom is betting on the deep liquidity and transparent onchain infrastructure of Hyperliquid to maintain its competitive edge. Millman signaled that the company intends to dive deeper into open markets, using the new talent to accelerate the development of complex trading products that extend well beyond standard crypto assets.