San Francisco, CA
- Tweets 2,236
- Following 1,827
- Followers 19,502
- Likes 7,161
In March, Phantom became the first passive software provider to receive no-action relief from the CFTC. We're grateful to the CFTC for working with us to chart a new path for non-custodial software providers to connect people with regulated markets, all while the provider never holds users' funds or makes decisions about their trades.
Now the CFTC has opened that same path to other software providers, and that's a win for the whole industry. This is how it should work: software built to protect consumers, paired with regulated partners, giving more people safe access to the financial services they want 🤝.
.@CFTC Staff Issues No-Action Position to Providers of Passive Software: cftc.gov/PressRoom/PressRele…
15
16
109
7,431
Arc is live in @phantom today.
Circle built it on a simple idea: money should be internet-native. Real-time, always on, settled fast, interoperable. We agree. Congrats to @arc @circle and @jerallaire.
Big picture: markets should be open to anyone, usable by anyone. Everyone should be able to control their own money, and plug into markets that never close. That's the freedom of open markets, and every rail like Arc gets more people there.
Phantom is live on @arc 💫
Not seeing it? Update your app to the latest version.
17
14
134
75,141
Earlier this year, Phantom updated its mission to: Connect the world to the freedom of open markets.
The biggest opportunity of the next decade is giving normal people access to financial opportunities they’ve never had access to before, with a level of freedom and control only self-custody can offer.
Throughout this evolution, we've tried to maintain the flexibility that power users rely on, while stripping away the complexity that's kept a lot of other people from experiencing the benefits of crypto. The consumer experience isn't all the way there yet. But we're getting closer.
8
4
59
2,017
A lot of Phantom has changed already, and a lot more change is inevitable. I know it can be pretty uncomfortable for the people who've been using and supporting Phantom the longest. Changing something you use every day is disruptive, and I don't take that lightly.
We're very grateful for the millions of people who use Phantom, and I hear your feedback everyday. If you've been with us a long time, keep the feedback coming. But I hope we’ve also earned the trust of users over the last 5+ years, and earned the benefit of the doubt on where this evolution is headed.
Luckily we're not just starting this process now. We’re in the middle of it, which can be painful. But no matter what, self-custody and access to open markets, at a global scale, is still the foundation for everything we’re building next.
2
35
1,069
I agree with @vibhu and the Solana foundation: the crypto ecosystem has evolved and the wallet needs to evolve as well.
As a product, Phantom has been undergoing big transformations over the past year. A lot of this work is already live: seedless login via Apple or Google, seamless swaps that abstract away gas and bridging, social usernames over raw wallet addresses, unified cash balances funded by built-in onramps (fund with everything from Apple Pay to ACH). And there’s definitely more to come.
In order to power this this evolution, we’ve rebuilt our self-custody and onchain finance stack from the ground up, giving us the foundation to redefine what a wallet can be: hiding the sharp edges of crypto while giving users the power of open, permissionless markets.
For crypto founders, the biggest lesson from @fomo and @Pumpfun ascendance is that the distribution model of the last 5 years for apps is moot.
Web3 is dead, wallet connect is dead, dApps are dead.
The new plan is vertically integrated mobile: hide the crypto mechanics entirely. Single balance across chains, integrated onramp (Apple Pay is king), no bridges, no seed phrases or private keys (sign in with Google or X).
For wallet apps themselves, this presents an existential crisis. The user demands simplicity & the feeling of safety. In the past, your wallet was a gateway to crypto. Now, I hold a deposit in each app I use and I don't yet care if they talk to each other.
As always, we go through bundling and unbundling cycles. If Phantom and Jupiter and Metamask were bundling, we are now seeing a great unbundling.
37
31
240
30,055
Brandon Millman retweeted
Writing the software isn't running the market. The same should hold true onchain. With the right rules, the CFTC can modernize these markets, keep builders in the United States, and give customers more control over their funds.
Today, with @phantom, we filed a joint comment letter with the CFTC with recommendations on how to achieve that result. Read it here:
27
51
455
19,030
Phantom and the @HyperliquidPC just filed a joint letter with the @CFTC. The Commission asked which of its rules keep fintech firms from partnering with regulated markets. We gave a direct answer, and it starts with how onchain markets actually work:
20
29
325
37,727
None of this is asking for a pass. Registered venues would still be registered, and the rules would still attach to whoever handles customer funds. What changes is that Americans would get a regulated way to reach transparent open markets.
4
24
1,306
We appreciate the CFTC's serious engagement with these new (and difficult) questions. Their willingness to work through them in good faith rather than default to no will lead to better regulations. More details here: phantom.com/learn/blog/phant…
2
22
1,215
Brandon Millman retweeted
Thrilled to share that Ventuals is joining Phantom!
We started Ventuals with one simple belief: perps are still early, and global, open, 24/7 markets will be central to how people trade, invest, and move value.
As we got to know the team, it became obvious that Phantom is the company to take this future mainstream.
Phantom is trusted by millions of people globally and has been Hyperliquid’s largest distribution partner to date. The team is clearly obsessed with creating a world-class user experience, and has the ambition to build a truly generational consumer finance brand.
We couldn’t be more excited to get to work.
96
17
618
59,772
The bigger picture this all ties back to: We want to connect the world to the freedom of open markets. Over the long term, open networks will beat closed systems, because anyone can plug in without asking permission. That's what's pushing us to redefine what a wallet can be.
3
22
1,768
If that's the kind of thing you want to work on, come build with us (and the Ventuals team)! phantom.com/careers. Welcome to Phantom, Alvin, Emily, and Aris!
2
21
1,587
Ventuals was one of the most sophisticated and interesting perps trading products on @HyperliquidX, with more than $1B in annualized volume. They're three of the best builders you’ll find in crypto or finance, and exactly the kind of people we want at Phantom.
1
1
27
2,340