While we already know the roster coming to Street Fighter V: Arcade Edition during Season 3, it is never too early to speculate on who may make the cut in Season 4. As such, VesperArcade — after reading the back story on the CFN portal — has his own ideas on who might show up.
Recapping the backstory posted about F.A.N.G, he speculates that hidden in his storyline is a potential new character named Phantom, whom F.A.N.G finds and trains at the end of the story. While it may come to be nothing, the speculation behind it is intriguing enough to pay attention.
Source: VesperArcade