From M&A to crypto: How Jasneet is navigating Legal at Phantom
Jasneet Aulakh has helped negotiate multi-billion-dollar acquisitions, structured complex commercial deals, and advised high-growth startups—but her first encounter with crypto?
It was in law school, in a conversation with three dudes from Miami debating Bitcoin. The pitch? Less about the technology and more about the quick money. “It was such a turnoff,” she laughs. “I dismissed Bitcoin for years after that.”
Fast forward, and Jasneet is now Phantom’s Associate General Counsel, leading the company’s commercial legal strategy as it evolves from a wallet into a broader consumer finance platform. With a background in corporate M&A and venture capital, she’s been instrumental in executing multiple acquisitions, structuring strategic deals, and navigating the ever-changing regulatory landscape of crypto.
But her draw to blockchain wasn’t just about transactions. It was about something deeper—data privacy, financial self-sufficiency, and the global implications of blockchain.
The privacy problem (and how crypto can fix it)
Jasneet’s journey into law was shaped by her studies in history and human rights, first as a Fulbright Fellow in India and then as a PhD candidate at Oxford University. One thing became clear: data in the wrong hands can be deadly.
“I studied ethnic and political violence in South Asia where you have a long history of the government’s exploitation of the personal data of minority citizens. In 1984, during the anti-Sikh pogroms in Delhi, the party in power used voter registration lists to identify and attack Sikh persons and properties systematically. That was only 40 years ago. Today, India’s Aadhaar card system all but requires citizens to link identity, banking and personal data into one centralized database in the hands of a government with hostile views towards Muslims and other minorities. That kind of access is terrifying.”
For Jasneet, blockchain represents an alternative. A way for people to own their own data, control their financial privacy, and operate outside of systems that could be used against them.
“We hear so much about crypto in the context of scams or speculation,” she says. “But for activists, journalists, or people under authoritarian regimes, the ability to store and move assets without state control isn’t just a convenience—it’s survival.”
She points to Win Ko Ko Aung, a democracy activist in Myanmar. After the military coup in 2021, his accounts and assets were frozen, cutting him off from the global financial system. But he still had access to Bitcoin with which he secured his escape to the U.S. where he found asylum.
“This is the part of crypto people don’t talk about enough,” Jasneet says. “It’s not just about trading—it’s about who has access to financial freedom and who doesn’t.”
Law in web3: The Wild West in real time
Moving from corporate M&A to in-house legal at a crypto company wasn’t just a career shift—it was stepping into a legal frontier where the rules are still being written.
“In traditional finance, you’re dealing with established laws, decades of precedent,” Jasneet explains. “’Crypto law’ is evolving in real time—often written in response to the industry itself. That means you’re not just applying the law—you’re interpreting it, advocating for it, and sometimes even helping shape it.”
At Phantom, Jasneet’s work spans commercial contracts, strategic partnerships, acquisitions, and regulatory considerations. Every day presents a new legal challenge—and no two deals are the same.
The fast pace means she’s constantly learning and adapting, something she finds intellectually rewarding. “It’s a legal field where you have to keep up in real time. Every deal, every product launch has layers of legal considerations, and there’s no handbook for it.”
M&A in crypto: Not just another deal
Since joining Phantom, Jasneet has played a critical role in three major acquisitions, including Bitski, Blowfish, and SimpleHash. But unlike her previous corporate deals, crypto M&A has a unique dynamic.
“In a law firm, M&A can be more of a zero-sum game. You negotiate hard for your client, you push for terms, and then you move on. Here, it’s different and I’m still adapting to that,” she explains. “When we acquire a company, those founders and teams become our colleagues or peers in the industry. The way you negotiate matters—because you’re going to be working with them the next day.”
That means thinking beyond just the transaction and building relationships that last. “It’s not just about getting the best deal—it’s about making sure these teams are set up for success within Phantom.”
Crypto’s Boys’ Club (and why it's changing)
It’s no secret that crypto and law are both male-dominated industries. But for Jasneet, that hasn’t been a roadblock—it’s been an opportunity.
“So many of my first interactions with crypto were through this ‘bro’ culture,” she says. “And that’s fine for some people, but it doesn’t reflect the full potential of this technology. The more diverse perspectives we bring in, the more we expand the conversation beyond ‘how much money can I make today?’”
At Phantom, she’s found a culture that values expertise and ownership, regardless of background. “One thing I love here is that it’s truly meritocratic. You can’t hide behind hierarchy—everyone has to deliver and no one wants you to stay in your lane.”
Her advice for women considering a move into crypto? You don’t have to know everything.
“There’s this idea that if you didn’t grow up on DeFi, you can’t work in this space. That’s not true. The most valuable people here are the ones who bring in fresh perspectives. The industry is still being built—there’s no better time to jump in.”
Why Legal in crypto is a career like no other
Jasneet’s career has taken her from law firms to in-house counsel, from billion-dollar deals to helping shape Phantom’s next chapter. And while legal work in crypto is complex, unpredictable, and sometimes chaotic, she wouldn’t have it any other way.
“In a traditional law firm, you’re one step removed from the business. Here, I’m working directly with product teams, finance, leadership—every decision is connected. You actually see the impact of your work.”
And at the end of the day, that’s what excites her most. “We’re not just operating in a legal framework—we’re helping define what the legal framework for crypto will be.”
Interested in joining Phantom?
We’re always looking for smart, driven people who want to build the future of consumer finance. If that’s you, check out our open roles.
