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


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


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.

Don’t miss the next big story – join our free daily newsletter.


Upcoming Events

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

ao cover.jpg


Arweave recently launched the testnet for AO computer, a new messaging protocol that will sit atop a PoS network and aims to become a scalable global compute platform through parallel processing and modularity.


The “fastest-growing ETF in history” has seen net inflows on every trading day since its Jan. 11 launch


Relm and Chainproof will provide insurance quotes to distributed validators


DLC.Link uses a Taproot-based Bitcoin multisig to let institutions mint dlcBTC, starting on Arbitrum


Pre-seed Bitcoin startup deals rose 360% in 2023, a TVP report shows


Circle’s new smart contract to allow holders of BlackRock USD Institutional Digital Liquidity Fund to redeem shares for its stablecoin


Uniswap says it was not surprised to receive a Wells notice given the SEC’s “abusive” use of power as of late