Pantera acquires additional discounted Solana tokens in FTX bankruptcy auction: report

Companies • April 26, 2024, 3:15AM EDT

Published 1 minute earlier on

UPDATED: April 26, 2024, 3:17AM EDT

Quick Take

Pantera was among the investors who won the bids for solana tokens at the FTX estate’s auction, according to Bloomberg.
FTX’s 41 million locked solana has seen strong demand from institutional investors.

Pantera Capital, which maintains $5.2 billion in assets under management, has won the bid for another trove of Solana ( SOL -3.036% ) tokens from the FTX bankruptcy estate, according to Bloomberg.

Bloomberg reported today, citing a source familiar with the matter, that Pantera was among the bidding winners and that about 2,000 Solana tokens were sold this week.

FTX’s 41 million locked Solana has seen strong demand. The Solana tokens made up the largest percentage of FTX’s crypto holdings at the time of its collapse. As of early March, Pantera was reportedly raising money to create a fund to purchase up to $250 million worth of locked Solana from the estate.

Earlier this month, FTX’s estate sold around $1.9 billion worth of SOL to industry firms such as Galaxy Digital and Pantera.

Solana trades at around $143, down 2.35% over the past 24 hours at the time of publication, according to The Block’s Price Page.

Pantera did not immediately respond to The Block’s request for comment.

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About Author

Timmy Shen is an Asia editor for The Block. Previously, he wrote about crypto and Web3 for Forkast.News from Taiwan after spending more than three years in Beijing covering finance, entertainment business and current affairs at Caixin Global and Chinese tech at TechNode. His China-related reporting has also appeared in The Guardian. When he's not chasing headlines, you'll find him savoring hot pot and shabu shabu in a Taipei local haunt. Timmy holds an MS degree from Columbia University Graduate School of Journalism. Send tips to [email protected] or get in touch on X/Telegram @timmyhmshen.