Phantom already has 100+ Hyperliquid-powered perp markets and up to 40x leverage in the wallet, so hiring a team that built vntl:OPENAI, vntl:SPACEX and ETF-style synthetic markets fits the next lane: abstracting weird perp exposure for retail without making users touch a trading terminal. Refusing the Ventuals product matters too; Phantom gets derivatives UX/risk talent without inheriting the legal and liquidity baggage of a shutdown equity-perp venue.

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