Pantera Capital, a renowned asset manager, recently stood out by winning a significant amount of Solana (SOL) tokens during an auction organized by the liquidators of the bankrupt cryptocurrency exchange FTX. This event marked another step in Pantera's ongoing involvement with the Solana blockchain, consolidating its position in the crypto market.
At the time of publication, the price of Solana was listed at US$143,82 with a drop of 3% in the last 24 hours.
The auction, wrapped in a cloak of discretion, resulted in the sale of around 2.000 SOL tokens. An anonymous source revealed to Bloomberg the Details event, remaining anonymous due to the sensitivity of the information. Pantera Capital, as well as representatives of FTX's bankruptcy estate, chose not to comment on the transaction.
This renewed interest from Pantera comes after a prior deal this month where a large portion of FTX's Solana holdings were traded, involving a staggering $2,6 billion worth of tokens. Both Pantera Capital and Galaxy Digital were active participants in this arrangement.
The SOL tokens involved in this recent sale are under a lock-up regime that prevents their immediate commercialization, with a four-year grace period before they become fully accessible for trading. Information from insiders suggests that the tokens were sold at a higher price than the previous auction, which had set the value at around US$60 per token.
At the same time, Pantera Capital is moving to launch Pantera Fund V, a new fund aimed at raising more than US$1 billion. This fund aims to offer investors a wide range of investment options in different segments of the ecosystem blockchain, including seed investments, early-stage tokens, and liquid tokens.
The fund is scheduled for first close on April 1, 2025, with a minimum investment of $1 million for qualified investors. Limited partners are expected to contribute at least $25 million. Sources indicate that Pantera Fund V is expected to reach a similar capital volume to its predecessor, which raised around $1,25 billion two years ago.
