Pantera Capital Emerges as the Successful Bidder for Acquiring a Cache of Discounted Solana from FTX, a Bankrupt Crypto Exchange: Report
Crypto investment firm Pantera Capital has reportedly emerged as the winner of a bid to acquire discounted Solana (SOL) tokens from bankrupt crypto exchange FTX. According to an anonymous source familiar with the matter, Pantera secured a deal to purchase a substantial amount of the Ethereum rival, although specific details of the transaction have not been disclosed. It is believed that 2,000 SOL tokens were sold this week, with FTX offloading approximately 66% of its $2.6 billion stash of SOL at a discounted price of around $60 back in April. The SOL tokens sold by FTX are subject to a predetermined vesting period and must be held for a minimum of four years. While precise information about the recent sale remains unknown, the anonymous source revealed that the tokens were sold at a higher price than in the previous auction, which saw them go for $60. In March, Pantera announced its plan to raise $250 million to acquire Solana from the failed digital asset exchange. However, the firm missed its initial target date of February.