Enterprise capital agency Pantera Capital efficiently acquired an undisclosed quantity of discounted Solana tokens in a latest public sale orchestrated by the bankrupt FTX alternate managers.
Whereas particular particulars of the public sale will not be totally disclosed, Pantera Capital, alongside business stalwarts like Galaxy Digital, had beforehand made important investments in SOL tokens, totaling round $1.9 billion earlier this month. Notably, these tokens had been acquired at a reduced charge of $64 every, marking a substantial markdown from the prevailing market costs.
These purchases are unsurprising, contemplating Pantera was reportedly elevating cash final month to buy as much as $250 million value of locked Solana tokens.
Pantera’s strategic transfer to put money into Solana is paying off amid the digital asset’s improved worth efficiency and adoption over the previous 12 months. The enterprise capital’s Liquid Token fund recorded a exceptional 66% development within the first quarter, attributed to investments in Solana and different promising altcoins like Ribbon Finance, Aevo, and Stacks.
In the meantime, FTX’s repeated gross sales of digital asset holdings from its chapter property have confronted criticism from collectors, who argue that these gross sales have adversely impacted the worth of their holdings. Consequently, collectors are being inspired to take part within the chapter property’s public sale of its remaining Solana token holdings.
It stays unsure whether or not FTX collectors had been among the many purchasers on this latest public sale spherical.
Pantera’s new crypto fund
In parallel, Pantera Capital is elevating over $1 billion for its newest enterprise, the Pantera Fund V, a complete funding automobile for varied blockchain property.
The fund, as outlined on Pantera’s official web site, will allocate capital throughout enterprise fairness, early-stage tokens, and liquid funds. This marks a departure from Pantera’s earlier choices, such because the Liquid Token Fund and Bitcoin Fund, and showcases a broader funding technique.
Companions are anticipated to commit a minimal of $25 million, whereas certified traders can have the chance to speculate a minimal of $1 million.
Talked about on this article
