Pantera acquires Solana at a discount from FTX assets
Key Takeaways
- Pantera Capital is raising funds to enable the Pantera Solana Fund to purchase discounted SOL tokens from FTX assets.
- The fund seeks to purchase $250 million worth of SOL at a price of $59.95.
- This investment strategy highlights Pantera’s confidence in Solana’s value and provides a liquidity solution for FTX creditors.
Pantera Capital Fundraising mission to acquire Solana (SOL) tokens As reported by Bloomberg, it came from assets of the now-defunct FTX cryptocurrency exchange..
Pantera is raising money to leverage the Pantera Solana Fund. Through the current market situation Win up to $250 million in SOL tokens.
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The current price of Solana is $142 per token. Pantera buys tokens for $59.95. 57% less.
As Solana’s performance garnered attention, A noticeable increase of 600% compared to last year The timing of Pantera’s fund couldn’t be more apt. SOL price rose 10% in the last 24 hours.
Intended argument not only means: Panthera’s Optimistic Outlook on Solana but also This is a potential route for FTX assets to sell their SOL holdings. The sale could provide liquidity to creditors, an important step in resolving FTX’s complex situation.
By taking advantage of FTX’s current situation and betting on Solana’s long-term potential, Pantera is positioning itself and its investors for potentially significant gains.
In other FTX-related news, the bankrupt cryptocurrency exchange has agreed to a settlement with BlockFi that will see FTX pay $874.5 million.
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