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Pantera to Acquire Solana Tokens at Reduced Price from FTX Assets

Pantera to Acquire Solana Tokens at Reduced Price from FTX Assets

Aaron S. Editor-In-Chief
Written by Aaron S.,
Editor-In-Chief

✓ Fact Checked

Last Updated: March 07, 2024

✓ Fact Checked

Key Takeaways

  • Pantera Capital is raising money for the Pantera Solana Fund to buy discounted SOL tokens from FTX's estate.
  • The fund seeks to purchase $250 million worth of SOL at the price of $59.95.
  • This investment strategy highlights Pantera's confidence in Solana's value and offers a liquidity solution for FTX creditors.

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Pantera to Acquire Solana Tokens at Reduced Price from FTX Assets

Pantera Capital is on a fundraising mission to acquire Solana (SOL) tokens from the estate of the now-defunct FTX crypto exchange, as reported by Bloomberg.

Pantera is raising money for the Pantera Solana Fund to leverage the current market conditions by acquiring up to $250 million of SOL tokens.

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Today, Solana costs $142 a token. Pantera would purchase the tokens for $59.95, which is 57% less.

As Solana's performance gains attention, with a notable 600% increase over the past year, the timing of Pantera's fund could not be more suitable. The price of SOL has risen 10% over the past 24 hours.

The intended acquisition not only signifies Pantera's bullish outlook on Solana but also presents a potential pathway for the FTX estate to divest its SOL holdings. This divestiture could, in turn, provide liquidity to creditors, a critical step in the unwinding process of FTX's complicated situation. 

By capitalizing on FTX's current situation and betting on Solana's long-term potential, Pantera is positioning itself and its investors for potential significant gains.

In other FTX-related news, the bankrupt crypto exchange has agreed to a settlement with BlockFi, in which FTX will pay $874.5 million.

Aaron S. Editor-In-Chief
Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
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