Crypto News

Pantera bought more Solana tokens from FTXs bankruptcy auction

Pantera bought more Solana tokens from FTXs bankruptcy auction
© Copyright Image: CryptoSlate

Venture capital firm Pantera Capital successfully acquired an undisclosed amount of discounted Solana tokens in a recent auction orchestrated by the bankrupt FTX exchange managers.

While specific details of the auction are not fully disclosed, Pantera Capital, alongside industry stalwarts like Galaxy Digital, had previously made significant investments in SOL tokens, totaling around $1.9 billion earlier this month. Notably, these tokens were acquired at a discounted rate of $64 each, marking a considerable markdown from the prevailing market prices.

These purchases are unsurprising, considering Pantera was reportedly raising money last month to purchase up to $250 million worth of locked Solana tokens.

Panteras strategic move to invest in Solana is paying off amid the digital assets improved price performance and adoption over the past year. The venture capitals Liquid Token fund recorded a remarkable 66% growth in the first quarter, attributed to investments in Solana and other promising altcoins like Ribbon Finance, Aevo, and Stacks.

Meanwhile, FTXs repeated sales of digital asset holdings from its bankruptcy estate have faced criticism from creditors, who argue that these sales have adversely impacted the value of their holdings. Consequently, creditors are being encouraged to participate in the bankruptcy estates auction of its remaining Solana token holdings.

It remains uncertain whether FTX creditors were among the purchasers in this recent auction round.

Panteras new crypto fund

In parallel, Pantera Capital is raising over $1 billion for its latest venture, the Pantera Fund V, a comprehensive investment vehicle for various blockchain assets.

The fund, as outlined on Panteras official website, will allocate capital across venture equity, early-stage tokens, and liquid funds. This marks a departure from Panteras previous offerings, such as the Liquid Token Fund and Bitcoin Fund, and showcases a broader investment strategy.

Partners are expected to commit a minimum of $25 million, while qualified investors will have the opportunity to invest a minimum of $1 million.

The post Pantera bought more Solana tokens from FTXs bankruptcy auction appeared first on CryptoSlate.

Read more: https://cryptoslate.com/pantera-bought-more-solana-tokens-from-ftxs-bankruptcy-auction/

Text source: CryptoSlate

Disclaimer: Financial information and news are not financial advice, read the disclaimer.
Buy & sell Crypto in minutes

Join BINANCE!

The world's largest crypto exchange

You're just steps away from receiving your reward.

The most complete Crypto News Center.

Search Stories:

Latest top stories