2024-04-27
Pantera Capital, a crypto asset manager, has reportedly emerged as the winning bidder in the purchase of discounted Solana (SOL) from the bankrupt crypto exchange platform FTX.
According to Bloomberg an anonymous source familiar with the matter, Pantera successfully acquired a discounted stash of the Ethereum (ETH) rival, although the specific details of the transaction have not been disclosed publicly.
The source reveals that this week, a total of 2,000 SOL tokens were sold.
In April, FTX sold approximately 66% of its $2.6 billion SOL holdings at a discounted price of around $60 per token.
As of now, the trading price for SOL stands at $142, reflecting a 1.85% decrease in the past 24 hours.
It is worth noting that on November 1st, SOL was trading at a significantly lower price of just $41.40.
The report further indicates that the Solana tokens sold by FTX are subject to a predetermined vesting period and must be held for a minimum of four years.
While the exact details of the sale remain unknown, the anonymous source disclosed that the tokens were sold at a higher price compared to the previous auction price of $60 per token.
In March, Pantera announced its intention to raise $250 million to acquire Solana from the failed digital asset exchange, with an initial target deadline of February, which unfortunately could not be met.
