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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.

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Website: coincu.com

Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.