Pantera SOL Buyback Guaranteed At $59.95

Key Points:

• Pantera Capital seeks funding to buy discounted SOL tokens from FTX estate.
• Investors offered SOL tokens at a 39% discount or fixed price of $59.95.
• Pantera SOL buyback provides liquidity to FTX estate without impacting SOL’s price surge.

Pantera Capital, a prominent crypto-focused asset manager boasting $5.2 billion in assets, is currently in the process of securing investments from major players in the financial realm.

Pantera SOL Buyback Gets Discount

Pantera SOL buyback has drawn considerable attention within the industry, hinting at potential strategic maneuvers by the venture company.

According to reports from Bloomberg, the Pantera SOL buyback was agreed upon with FTX, a digital asset exchange that was recently declared bankrupt. The proposed Pantera Solana Fund aims to raise funds for this purpose, eyeing a substantial purchase of up to $250 million worth of SOL tokens.

Investors presented with the opportunity by Pantera are offered a compelling deal, with the chance to obtain SOL tokens at a discounted rate of 39% below the 30-day average price or at a fixed price of $59.95. However, this attractive offer comes with a condition: investors must commit to a vesting period lasting up to four years.

Read more: Pantera Capital Review: Top Oldest Investment Fund In The Crypto World

Providing Liquidity to FTX Estate Amidst SOL Price Surge

This strategic move by Pantera serves multiple purposes. Firstly, it provides a means to ease immediate pressure on Solana’s token price. Additionally, it offers liquidity to the estate of FTX.

Pantera’s proposal holds significant implications for the FTX estate, particularly for liquidators led by John J. Ray III. The estate, currently holding 41.1 million SOL coins, as disclosed in Pantera’s pitch document, amounts to a value of $5.4 billion, representing approximately 10% of the total supply of SOL tokens.

The surge in SOL token value over the past year, climbing nearly 650% amidst the ongoing crypto bull market, presents a ripe opportunity for the FTX estate.

Notably, SOL’s current trading price stood at almost four times its value when FTX faced insolvency in November 2022. It’s worth noting that Sam Bankman-Fried, FTX’s co-founder and former CEO awaiting sentencing on multiple fraud charges, played a pivotal role as a major supporter of the Solana network.