When Shift Happens Podcast

E115: Phantom CEO: How This Crypto Wallet hit 15M+ Users and a $3B Valuation in just 3 years

Apr 4, 2025
Brandon Millman, co-founder and CEO of Phantom, shares his journey in creating one of crypto's leading wallets with over 15 million users. He discusses how focusing on user experience set Phantom apart from tech-heavy wallets. Insights from his time at Twitter reveal the struggles of traditional finance apps against innovative crypto solutions. Brandon delves into the naming and branding of Phantom, the wallet's strategic growth amid market shifts, and its potential to redefine consumer finance in a digital age.
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ANECDOTE

Revenue-Driven Decisions at Twitter

  • At Twitter, A/B testing prioritized revenue over user experience.
  • A proposed image cropping improvement was never released as it reduced ad views.
INSIGHT

Wallets as Gatekeepers

  • Wallets are the entry point to the crypto ecosystem, impacting user adoption.
  • Poor wallet experiences create a decelerating effect on the entire ecosystem.
INSIGHT

Ethereum's Developer Focus

  • The Ethereum ecosystem prioritized developers, neglecting user experience.
  • This developer-focused mindset hindered broader crypto adoption.
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