Cryptocurrency investment firm Pantera Capital, managing assets worth $5.2 billion, is making moves to acquire a portion of Solana (SOL) from the bankrupt FTX exchange. According to a recent Bloomberg report on March 7th, Pantera is looking to secure $250 million worth of SOL from FTX's holdings.
In an investor note, Pantera expressed interest in adding Solana to their Pantera Solana Fund, identifying an opportunity in FTX's distressed assets. The proposed deal outlines a purchase at a notable discount, 39% below the 30-day average price, which equates to approximately $59.95 per SOL token. However, this discounted rate comes with a condition—a four-year vesting period.
Amid FTX's ongoing bankruptcy proceedings, the exchange is exploring options to offload assets and settle debts with creditors. This involves selling at a discount to investment firms like Pantera or utilizing market makers to move assets onto exchanges.
Pantera's potential purchase is viewed as positive news for Solana. Facing selling pressure due to FTX's excess SOL, the proposed acquisition prompted a brief surge in SOL's value.
For existing Solana investors, Pantera's move introduces an interesting dynamic. While the discounted sale offers an immediate price advantage, the four-year vesting period might influence long-term investment strategies. #
As Solana continues to navigate market fluctuations, investors are closely watching the impact of this potential deal on the broader SOL ecosystem. The coming weeks may provide further insights into how this strategic move shapes the landscape for both Pantera Capital and Solana enthusiasts.$SOL #SOL/USDT #PanteraCapital #TrendingTopic
