Pantera bought more Solana tokens from FTX’s bankruptcy auction
Pantera provided more Solana tokens from FTX’s financial extinguish auction Pantera provided more Solana tokens from FTX’s financial extinguish auction
Pantera Capital's Solana bet is proving a hit as the agency attributed its Liquid Token fund enhance to the digital asset.
Duvet art/illustration by CryptoSlate. Image involves mixed impart material which might possibly possibly well consist of AI-generated impart material.
Enterprise capital agency Pantera Capital efficiently received an undisclosed amount of discounted Solana tokens in a fresh auction orchestrated by the bankrupt FTX alternate managers.
Whereas explicit details of the auction are no longer fully disclosed, Pantera Capital, alongside industrial stalwarts treasure Galaxy Digital, had beforehand made fundamental investments in SOL tokens, totaling around $1.9 billion earlier this month. Particularly, these tokens had been received at a reduced charge of $64 each, marking a in actuality in depth markdown from the existing market costs.
These purchases are unsurprising, desirous about Pantera became once reportedly raising money final month to aquire as a lot as $250 million worth of locked Solana tokens.
Pantera’s strategic switch to make investments in Solana is paying off amid the digital asset’s improved tag efficiency and adoption all the scheme in which by the final 365 days. The project capital’s Liquid Token fund recorded a worthy 66% enhance within the first quarter, attributed to investments in Solana and other promising altcoins treasure Ribbon Finance, Aevo, and Stacks.
Meanwhile, FTX’s repeated sales of digital asset holdings from its financial extinguish estate maintain confronted criticism from creditors, who argue that these sales maintain adversely impacted the worth of their holdings. In consequence, creditors are being encouraged to participate within the industrial extinguish estate’s auction of its final Solana token holdings.
It remains risky whether or no longer FTX creditors had been amongst the customers in this fresh auction spherical.
Pantera’s new crypto fund
In parallel, Pantera Capital is raising over $1 billion for its most modern project, the Pantera Fund V, a comprehensive funding car for quite a bit of blockchain sources.
The fund, as outlined on Pantera’s official websites, will allocate capital across project equity, early-stage tokens, and liquid funds. This marks a departure from Pantera’s old offerings, such as the Liquid Token Fund and Bitcoin Fund, and showcases a broader funding strategy.
Partners are anticipated to commit a minimum of $25 million, while qualified merchants might possibly possibly well maintain the different to make investments a minimum of $1 million.
Mentioned in this article
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's capability. He imparts insights on a range of issues treasure DeFi, hacks, mining and tradition, underlining transformative energy.
Andjela Radmilac
Armed with a classical training and an eye for news, Andjela dove head deep into the crypto industrial in 2018 after spending years covering politics.
Most fashionable Solana Reviews
In this article
Solana is a high-efficiency blockchain platform that utilizes a determined consensus algorithm called “Proof of Historic past” to end fast transaction speeds and low costs.
FTX
FTX is a defunct cryptocurrency alternate, currently in financial extinguish lawsuits, that became once based by Sam Bankman-Fried and Zixiao “Gary” Wang in Would possibly well possibly merely 2019.
Alameda Examine
Alameda Examine became once once a major trading agency, working as an arm of the failed crypto alternate, FTX.
Pantera Capital
Pantera Capital is an funding agency centered completely on ventures, tokens, and tasks linked to blockchain tech, digital currency, and crypto sources..
Source credit : cryptoslate.com
