Pantera Capital Wins Solana Token Auction: Expands Portfolio
An asset management firm, Pantera Capital, successfully acquired discounted Solana (SOL) tokens in a private auction conducted by the liquidators overseeing the bankruptcy of the former FTX cryptocurrency exchange. This purchase, totaling approximately 2,000 SOL tokens, signifies Pantera Capital’s ongoing interest in expanding its holdings in Solana.
Pantera Capital’s Recent Acquisition of Solana Tokens
The recent auction of Solana tokens, details of which have not been publicly disclosed, was confirmed by a reliable source to Bloomberg. Notably, neither Pantera Capital nor representatives of the FTX estate have commented on this transaction.
- Pantera Capital wins bid for discounted Solana tokens
- This purchase reflects Pantera’s commitment to Solana
Previous Deal by FTX Estate
Pantera Capital’s purchase of Solana tokens follows a recent sale by the FTX estate, where a significant portion of $2.6 billion worth of Solana tokens was sold at a discounted rate. In this auction, Pantera Capital and Galaxy Digital were among the successful bidders.
- FTX estate sells large portion of Solana tokens
- Galaxy Digital and Pantera Capital participate in auction
Locked SOL Tokens
The 41 million SOL tokens sold by the FTX estate are currently under a pre-agreed vesting period, limiting immediate trading. These tokens will gradually become available for sale over a span of four years. Sources indicate that the recent sale fetched higher prices compared to a previous auction.
- SOL tokens under vesting period
- Gradual release of tokens for trading
Pantera Capital’s Plans for Pantera Fund V
In a bid to raise over $1 billion, Pantera Capital is actively working towards launching a new fund, Pantera Fund V. This new fund aims to offer investors diverse investment options across blockchain assets, including startup equity, early-stage tokens, and liquid tokens.
- Pantera Capital seeks to raise $1 billion for new fund
- Expanded investment options for investors
Investment Threshold and Timeline
Pantera Fund V has a minimum investment threshold of $1 million for qualified investors, with the first close scheduled for April 1, 2025. Limited partners are expected to contribute a minimum of $25 million, mirroring the size of its predecessor fund raised two years ago.
- Minimum investment of $1 million for qualified investors
- First close set for April 1, 2025
Solana’s Performance and Market Capitalization
Solana’s native token, SOL, has shown minimal price fluctuations, currently valued at $144 per token. Year-to-date, SOL has surged over 500%, resulting in a market capitalization of $64 billion. As per CoinGecko data, Solana now ranks fifth among the top 10 largest cryptocurrencies in the market.
Hot Take: Pantera Capital’s Success in Solana Token Auction
Asset management firm Pantera Capital’s recent win in the Solana token auction highlights its strategic investment decisions and commitment to expanding its cryptocurrency portfolio. With plans for a new fund on the horizon, Pantera Capital is poised to capitalize on the growing opportunities in the blockchain sector.
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