Pantera Capital aims to purchase discounted SOL tokens, leveraging FTX’s troubled assets.
Pantera aims to seize an opportunity on Solana
Over the past year, Solana’s native token SOL has seen an impressive increase of nearly 600%, making it one of the top-performing cryptocurrencies of the year. In this context, Pantera Capital is launching the Pantera Solana Fund, targeting investors interested in acquiring SOL at a favorable rate.
An enticing offer on paper
Pantera is offering investors the opportunity to purchase up to $250 million worth of SOL tokens at a discount of 39% compared to the 30-day average price, which is $59.95 at the time of the offer. This information was revealed by Bloomberg after reviewing documents sent to potential investors last month.
The acquired tokens would be subject to a vesting period of at least four years, allowing FTX to liquidate its holdings in SOL and free up funds for its creditors.
FTX, a key player in Solana’s history
FTX, the cryptocurrency exchange formerly led by infamous scammer Sam Bankman-Fried and an early supporter of Solana, held billions of dollars in SOL tokens. SOL has proven to be one of the top-performing tokens in 2023, with an increase of almost 600% in the past year, surpassing Bitcoin’s 200% performance.
Pantera aims to finalize the fund by the end of February and has already raised part of the necessary funds before the deadline, according to Bloomberg’s report.
