Pantera Capital Solana Auction Takes Place Successfully With 2,000 SOLs Offloaded

Key Points:

• Pantera Capital Solana auction took place smoothly when held by administrators overseeing the former FTX exchange’s bankruptcy proceedings.
• The auction includes 2,000 SOL tokens; Pantera previously participated in a $2.6 billion deal.
• Pantera plans a $1 billion crypto fund, signaling sector confidence post-2022 setbacks.

Pantera Capital emerged as a successful bidder in the latest auction of discounted Solana tokens conducted by the administrators overseeing the bankruptcy proceedings of the former FTX cryptocurrency exchange, as reported by Bloomberg.

Pantera Capital Solana Auction Takes Place Smoothly

This week, approximately 2,000 SOL tokens were offloaded, with details of the Pantera Capital Solana auction undisclosed to the public, as per the source.

Pantera Capital Solana auction follows a previous auction earlier this month, where the FTX estate managed to sell a significant portion of a $2.6 billion stash of Solana tokens at a discounted rate. Notably, Pantera Capital and Galaxy Digital participated in that deal.

The ongoing sale involves 41 million SOL tokens, subject to a predetermined vesting period spanning four years, rendering them non-tradable in the market until they gradually unlock.

Sources familiar with the recent sale indicate that the tokens fetched a higher price compared to the previous auction, which garnered approximately $60 per token.

Pantera Capital Plans $1 Billion Crypto Fund Amid Sector Resurgence

Meanwhile, Pantera Capital is also gearing up to launch Pantera Fund V, aiming to amass $1 billion for investments in various crypto assets, including startup equity and early-stage tokens. This initiative, reported by Bloomberg, comes after Pantera’s previous attempt to raise $1.25 billion for a blockchain fund in 2022.

The success of Pantera Fund V could mark a significant resurgence in investor confidence in the crypto sector, which setbacks experienced due to scandals and bankruptcies in 2022. As recently as last year, fundraising for new capital by fund managers proved challenging.