Pantera Capital set to acquire substantial stake in Solana from FTX estate
According to Bloomberg, Pantera Capital, which manages $5.2 billion in assets, is hoping to acquire up to $250 million worth of SOL tokens.
This acquisition could represent a substantial share of the tokens owned by FTX, offering a discounted rate to investors willing to commit to a four-year vesting period.By acquiring these tokens at a 39% discount, Pantera aims to provide its investors with a lucrative opportunity while also assisting FTX liquidators in reallocating assets to creditors without destabilizing the token's market value.
Pantera Capital, founded by Dan Morehead, a former head at Tiger Management, has a rich history of pioneering in the cryptocurrency investment space. The firm launched the United States' first cryptocurrency fund in 2013 and has been a leader in blockchain venture funding. Its portfolio management strategy spans passive, hedge and venture investments in digital currencies and blockchain technology.Solana's market value has shown remarkable growth. It has surged by a whopping 14% in the last 24 hours alone. It is currently trading at $147.
This surge is part of a broader trend that saw the cryptocurrency's value multiply following the FTX collapse in November 2022. Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.
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