Pantera Capital Insignificant Exposure With The FTX Crisis
According to a letter from Pantera Capital partner Paul Veradittakit, the crypto investment firm has little exposure to the defunct FTX exchange despite having a diverse portfolio.
Veradittakit stated in the letter:
“On the Pantera side, we had insignificant exposure on the FTX platform and got exposure to FTX as a shareholder primarily through the acquisition of our portfolio company Blockfolio.”
Blockfolio, a crypto data application, was purchased by FTX in 2020 for $150 million.
The crypto companies, in turn, asserted their exposure to FTX. According to the flow of events, FTX CEO Sam Bankman-Fried announced his resignation and filed for Chapter 11 bankruptcy recently, Coincu reported.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu