Enterprise capital agency Pantera Capital efficiently acquired an undisclosed quantity of discounted Solana tokens in a current public sale hosted by a bankrupt FTX change supervisor.
Though particular particulars of the public sale haven’t been absolutely disclosed, Pantera Capital made a big funding within the SOL token earlier this month, alongside business heavyweights like Galaxy Digital. The overall quantity was roughly $1.9 billion. Notably, these tokens have been every acquired at a reduction price of $64, a big low cost from prevailing market costs.
These purchases are usually not shocking provided that Pantera was reportedly elevating funds to buy as much as $250 million price of locked Solana tokens final month.
Pantera's strategic transfer to put money into Solana has paid off as the value efficiency and adoption price of digital belongings has improved over the previous 12 months. The enterprise capital agency's Liquid Token Fund posted a formidable 66% progress within the first quarter with investments in Solana and different promising altcoins equivalent to Ribbon Finance, Aevo, and Stacks.
In the meantime, FTX's repeated gross sales of digital belongings held from chapter estates have come beneath fireplace from collectors who argue that these gross sales are negatively impacting the worth of their holdings. Because of this, collectors are being inspired to take part within the public sale of remaining Solana tokens held by the chapter property.
It stays unclear whether or not FTX collectors have been among the many consumers on this newest public sale spherical.
Pantera's new cryptocurrency fund
On the identical time, Pantera Capital has raised over $1 billion for its newest enterprise, Pantera Fund V, a complete funding automobile for quite a lot of blockchain belongings.
Funds outlined on Pantera's official web site Web siteAllocate capital to , enterprise fairness, early-stage tokens, and liquid funds. This marks a departure from Pantera's earlier choices, equivalent to Liquid Token Funds and Bitcoin Funds, and alerts a broader funding technique.
Companions are anticipated to commit a minimal of $25 million, and eligible traders can have the chance to speculate a minimal of $1 million.
