Pantera eyes $250 million in discounted Solana tokens from FTX estate
Pantera aims to add $250 million worth of SOL to their portfolio from FTX.
Crypto-focused asset manager Pantera Capital is raising funds to buy discounted Solana tokens from the bankrupt FTX exchange, Bloomberg reported on Mar. 7.
According to the report, the company initiated the Pantera Solana Fund to acquire up to $250 million of SOL tokens from the distressed FTX estate . This move entails purchasing SOL at a discounted rate of approximately 39%, pegged at around $59.95 based on a 30-day average price.
Investors interested in this opportunity must commit to holding their assets for up to four years, during which Pantera plans to impose a 0.75% management fee and a 10% performance fee.
Although the funding round was slated to conclude by the end of February, Pantera managed to secure a portion of the funds, the exact amount of which remains undisclosed, according to a confidential source cited by Bloomberg.
Notably, this acquisition strategy enables FTX liquidators to bolster their funds without undue influence on SOL’s market price. At the time of FTX’s collapse, Solana comprised 34.2% of its holdings, with Bitcoin and Ethereum collectively accounting for 22.1%.
Solana’s price movement
Between Mar. 6 and Mar. 7, Solana experienced a significant surge in value. Solana’s native SOL token is currently hovering at around $145, marking an approximate 15% increase, according to CryptoSlate’s data.
This continues an impressive run that has seen SOL gain 360% in the past year , primarily driven by the overall positive market mom entum surrounding the introduction of spot Bitcoin exchange-traded funds (ETFs) in the US that propelled BTC’s price to new record highs.
Meanwhile, this upward momentum has attracted new investors to its ecosystem , further bolstering liquidity and growing interest in its blockchain technology.
Moreover, DeFi activities on the Solana blockchain are witnessing a resurgence , with the total value of assets locked on the network nearing $3 billion. This milestone marks the highest level since May 2022, according to data from DeFillama.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Perhaps as soon as next week, the term "RMP" will sweep across the entire market and be regarded as the "new generation QE".
The Federal Reserve has stopped its balance sheet reduction, marking the end of the "quantitative tightening" era. The much-watched RMP (Reserve Management Purchases) could initiate a new round of balance sheet expansion, potentially injecting a net increase of $20 billion in liquidity each month.
Enemies reconciled? CZ and former employees join forces to launch prediction platform predict.fun
Dingaling, who was previously criticized by CZ due to the failure of boop.fun and the "front-running" controversy, has now reconciled with CZ and jointly launched a new prediction platform, predict.fun.
Why is it said that prediction markets are really not gambling platforms?
The fundamental difference between prediction markets and gambling lies not in gameplay, but in mechanisms, participants, purposes, and regulatory logic—the capital is betting on the next generation of "event derivatives markets," not simply rebranded gambling.
2025 Crypto Prediction Mega Review: What Nailed It and What Noped It?
Has a year passed already? Have those predictions from back then all come true?
Trending news
MoreCrypto prices
More
