Phantom Wallet Expands Support to Sui

• Phantom Wallet expanded its support to Sui, adding flexibility beyond Solana, Ethereum, and Polygon for managing digital assets.
• Phantom integrated with MoonPay, enabling seamless crypto purchases and instant withdrawals directly within the wallet for a better user experience.

Phantom Wallet, a popular crypto wallet in the Solana ecosystem, has just recorded its highest revenue ever. Phantom has already brought in $33 million in income in February 2025, just a few days before this month finishes.

> 🚨JUST IN: @phantom’s monthly revenue hits a new all-time high of $33M in February with 8 days remaining in the month. pic.twitter.com/booLHk5giA
> — SolanaFloor (@SolanaFloor) February 20, 2025

Phantom’s Journey to a New Record

Phantom has been steadily expanding its range of services in recent times. The wallet formally included functionality for the Sui layer-1 blockchain on January 29, 2025. Having only recently operated on the Solana, Ethereum, and Polygon networks, this move makes it even more adaptable in supporting several ecosystems.

For more crypto-savvy users, this integration allows users to handle SUI tokens and other assets directly through their wallet, hence offering ease and choice.

However, it’s not just technological expansion that is driving this surge in revenue. Phantom effectively obtained a $150 million Series C financing round led by Sequoia Capital and Paradigm on January 16, 2025.
This influx values the company at $3 billion and aims to enhance the user experience in managing their digital resources as well as broaden the range of services provided.

Integration with MoonPay: Ease of Crypto Transactions

On another note, Phantom’s success is also attributed to its strategic integration with MoonPay, as previously reported. Users of the Phantom wallet can buy some digital assets directly using their MoonPay balance through this partnership.

Moreover, users can promptly withdraw money to their bank accounts, therefore simplifying the transaction process. This kind of integration is particularly significant for new users who might still be unfamiliar with the realm of cryptocurrencies.

Security Issues and Phantom’s Response

Despite its success, Phantom’s journey has faced challenges. A security researcher named @CloakdDev claimed in January 2025 a possible flaw that could compromise user funds. The community became concerned, but Phantom swiftly responded to clarify that the issue did not endanger user money.

The researcher, however, cautioned users to be cautious about storing their recovery phrases and considering alternative wallets. For crypto wallets, security remains a major concern; therefore, Phantom’s swift response demonstrates its commitment to maintaining user trust.