Pantera Capital secures more discounted Solana tokens in FTX personal bankruptcy auction

Interesting Information for Pantera Funds: Snagging Discounted SOL Tokens!

Pantera Capital, the impressive crypto enterprise money firm based in Menlo Park, California, has just secured a further batch of discounted SOL tokens via a latest auction structured by the administrators managing the personal bankruptcy circumstance of the collapsed FTX crypto exchange.

According to a the latest Bloomberg report, Pantera Funds productively acquired 2,000 SOL tokens (presently valued at roughly $288,000 at market value) before this week. Whilst the exact discounted charge at which the tokens have been acquired remains undisclosed, sources counsel that it surpassed the previous auction’s value of about $60 for every token.

Reviews reveal that Pantera Money was just one of the victorious bidders in this auction, whilst the entire listing of participants continues to be unidentified. Former auctions saw Pantera Funds and Galaxy Electronic, another crypto-centered financial commitment agency, getting the greater part of the $2.6 billion worthy of of Solana tokens marketed by the FTX estate.

The 41 million SOL tokens becoming sold by the FTX estate are now underneath lock-up with a predetermined vesting period, creating them unavailable for immediate industry trading. Even so, the possibility of these tokens currently being traded by way of more than-the-counter (OTC) transactions is continue to unsure.

All through the FTX personal bankruptcy proceedings peak, the trade held approximately 60 million SOL tokens and 21,482 BTC.

FTX’s downfall in November 2022 was fraught with allegations of embezzlement and misappropriation of purchaser money totaling billions of dollars, involving its homeowners and affiliated hedge fund Alameda Investigate. The exchange’s CEO, Sam Bankman-Fried, received a 25-yr prison sentence and was instructed to reimburse $11 billion.