Phantom Wallet has no immediate plans to conduct an initial public offering (IPO) or launch its own blockchain, according to CEO Brandon Millman during a recent Empire podcast appearance.
The topic comes amid rumors about Phantom Wallet’s potential expansion following its $150 million funding round in February 2025, which valued the project at $3 billion. Despite community expectations for a public market debut or token launch, Millman confirmed that Phantom Wallet is not pursuing these paths at the moment.
When asked about developing a proprietary network, Millman highlighted that such initiatives require specialized, vertically integrated infrastructure. He referenced examples like Hyperliquid and stablecoin-focused blockchains, noting that competing with Solana in terms of speed and transaction costs is a challenging prospect.
“Launching our own network somewhat contradicts the open, publicly accessible nature of cryptocurrencies,” Millman said. “Our strategy remains to reinvest in Solana and other established ecosystems.”
Regarding an IPO, Millman acknowledged the company has potential but emphasized there are no plans to go public. He stressed that Phantom Wallet will continue relying on private funding from major investors such as Andreessen Horowitz (a16z), Paradigm, and Sequoia Capital.
“An IPO is a tool we could use if it aligns with our mission, but it’s not necessary right now,” Millman said. He also described the dual approach of combining token issuance with an IPO as “uncharted territory” due to high risk and responsibility.
The podcast also covered a range of topics, including forecast market development, the acquisition of Solsniper by Phantom Wallet, and trading perpetual futures through Hyperliquid integration.
