Pantera Capital wants to buy up SOL from the FTX estate: Bloomberg

Pantera Capital is reportedly interested in buying up to $250 million worth of SOL

article-image

Pantera Capital CEO Dan Morehead | DAS 2022 New York by Blockworks

share

Pantera is reportedly looking to raise funds from large investors to buy up discounted Solana tokens from the FTX estate.

Pantera wants to create the Pantera Solana Fund, Bloomberg reported. The report cited marketing materials from Pantera, which said that the fund could buy up to $250 million worth of the tokens from FTX.

Prospective investors would agree to a vesting period of four years to buy Solana (SOL) at 39% below a 30-day average, or $59.95, Bloomberg said. Investors would put in at least $25 million and would be charged a management fee of 0.75% by Pantera. Additionally, there would be a 10% performance cut.

Pantera Capital didn’t immediately return a request for comment on the report.

Read more: Bankman-Fried’s crypto portfolio would be up billions this year — thanks to Solana

FTX holds roughly 10% of the total supply of SOL, or 41.1 million coins, according to the marketing documents cited.

Pantera was looking to close the fund by the end of February. An unnamed source confirmed to Bloomberg that it had raised some money, though a specific figure was not disclosed. 

Solana is up over 614% this year, according to data from CoinGecko. SOL was trading around $145, up 12%, at the time of publication.

The token was one of former FTX CEO Sam Bankman-Fried’s biggest investments. At his trial in November of last year, he even revealed that he’d been buying Solana back when it was worth roughly $0.20.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Research Report Templates (8).png

Research

Meta-aggregators like Titan and Kamino Swap improve price execution for users, making the Solana swapping landscape more competitive. Jupiter has incorporated meta-aggregation features into its latest routing engine to keep users on its front end (own the user, own the flow). At large, teams are treating swaps as a commoditized complement, offering incredibly cheap or free swaps to own the end-user and increase demand for high-margin product offerings (multi-product DeFi). On another note, the divergence in the concentration of aggregator volume between DEXs suggests increased specialization at the DEX layer by asset type.

article-image

Many community banks and credit unions feel like they missed the fintech craze — and they don’t want to miss stablecoins

article-image

BlackRock COO Rob Goldstein noted that the firm had been looking into crypto since 2017

article-image

With the June FOMC meeting coming up, the Fed remains unlikely to cut interest rates. Is this the right move?

article-image

The crypto-optional shooter is expected to release on Steam in a few weeks

article-image

The new airdrop campaign reaches 50,000 users, setting the stage for Spark’s 10-year token distribution