The cryptocurrency wallet Phantom Wallet has no intentions of going public through an initial public offering (IPO) or creating its own blockchain network in the near future. This was stated by the company’s CEO, Brandon Millman, during the Empire podcast.
This is reported by Finway
Phantom Wallet Focuses on Developing the Solana Ecosystem
Rumors about the potential scaling of Phantom Wallet emerged back in February 2025, when the company raised $150 million in investments at a valuation of $3 billion. The community expected that the next step could be a stock market debut or the launch of its own token. However, the wallet team does not plan to implement these tools for expansion.
In response to a question about the possible creation of a separate network, Millman noted that such decisions have narrow specialization and vertical architecture. He cited the example of the Hyperliquid network and blockchains for stablecoins, but he is skeptical about the prospects of creating another blockchain to compete with Solana.
“[…] But I am extremely skeptical when someone plans to compete with Solana in terms of speed and cost of transactions. […] Launching our own network somewhat contradicts the open and public nature of cryptocurrencies. We will always try to reinvest in Solana and other ecosystems that are already built on it,” said Millman.
Private Funding and the Company’s Vision for the Future
The head of Phantom Wallet emphasized that the company meets the criteria for an IPO but currently does not consider this path a priority. According to Millman, the organization is now focusing on attracting private investments from major players such as Andreessen Horowitz (a16z), Paradigm, and Sequoia Capital.
He also noted that using both financial instruments—IPO and token issuance—represents “uncharted territory” with increased risks and excessive responsibility. That is why such an approach is not currently being considered by the management of Phantom Wallet.
During the Empire podcast, the prospects for the development of prediction markets, the recent acquisition of the Solsniper service by Phantom Wallet, and the integration of Hyperliquid for trading perpetual futures were also discussed.