Ventuals Team Joins Phantom
Cryptocurrency wallet Phantom has announced the acquisition of the entire team behind Ventuals, a private market perpetual contract platform. Ventuals operated on the Hyperliquid network, enabling users to trade synthetic perpetual contracts tied to valuations of private companies such as OpenAI and SpaceX. The platform ceased operations on June 15, having facilitated over $650 million in cumulative trading volume.
On-Chain Trading Suite Plans
With the Ventuals team onboard, Phantom intends to build a comprehensive on-chain trading suite. This will allow users to execute perpetual contract trades directly within the Phantom wallet without needing to bridge funds to external platforms, significantly reducing friction and positioning Phantom as a more complete DeFi gateway.
Market Impact and Data
Phantom currently serves over 20 million active users and is the largest distribution partner for the Hyperliquid network. This strategic integration strengthens Phantom's technical capabilities in derivatives trading, while reinforcing its position as a leading wallet in the Solana ecosystem. Ventuals' expertise in synthetic assets and perpetuals is expected to drive the launch of innovative on-chain financial products.