Pantera Capital Eyes $250M Purchase of SOL from FTX Estate

The firm plans to buy Solana tokens at a 39% discount, aiming to bolster its position in the crypto market.

Pantera Capital is reportedly raising funds to purchase up to $250 million worth of Solana (SOL) tokens from the FTX estate at a 39% discount.
The proposed Pantera Solana Fund aims to buy the tokens at $59.95 each, significantly below the 30-day average price, with a four-year vesting period for investors.
FTX, which filed for bankruptcy in November 2022, holds about 10% of the total SOL supply, equating to approximately 41.1 million coins.
Solana's price has surged over 614% this year, reaching a trading price of around $145, marking a significant recovery from its low point below $10 at the end of 2022.
Pantera Capital, managing $5.2 billion in assets, is recognized as a leading crypto firm and has successfully raised some funds for the venture, though the exact amount is undisclosed.