Enterprise capital agency Pantera Capital efficiently acquired an undisclosed quantity of discounted Solana tokens in a latest public sale organized by the failed managers of the FTX alternate.
Whereas the particular particulars of the public sale should not absolutely disclosed, Pantera Capital, together with devoted business offshoots similar to Galaxy Digital, already made a major funding in SOL tokens earlier this month totaling roughly $1.9 billion. Notably, these tokens have been acquired at a reduced price of $64 every, a major discount from the prevailing market costs.
These purchases should not stunning contemplating that Pantera was reportedly elevating cash to purchase as much as $250 million price of locked Solana tokens final month.
Pantera's strategic transfer to spend money on Solana is paying off with the digital asset's higher value efficiency and adoption over the previous yr. The enterprise capital fund's Liquid Token fund noticed a outstanding 66% progress within the first quarter, attributed to investments in Solana and different promising altcoins similar to Ribbon Finance, Aevo and Stacks.
In the meantime, FTX's repeated gross sales of digital property held out of its chapter property have confronted criticism from collectors who say the gross sales have adversely affected the worth of their holdings. Consequently, collectors are inspired to take part within the chapter public sale of Solana's remaining token holdings.
It stays unsure whether or not FTX lenders have been among the many consumers on this latest public sale spherical.
The brand new Pantera crypto fund
In parallel, Pantera Capital is elevating greater than $1 billion for its newest enterprise, Pantera Fund V, a complete funding car for numerous blockchain property.
Fund as listed on Panther official Web site, will allocate capital between enterprise capital, 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 represents a broader funding technique.
Companions are anticipated to place in a minimal of $25 million, whereas certified traders could have the chance to take a position a minimal of $1 million.
