Pantera Capital, a leading crypto asset manager with a $5.2 billion portfolio, is set to reinforce Solana’s position in the cryptocurrency market. By rallying major investors, Pantera is raising funds to acquire Solana tokens at a significant discount from the FTX estate, showcasing confidence in Solana’s potential. Their initiative, the Pantera Solana Fund, targets a $250 million investment in SOL tokens, capitalizing on the opportunity to purchase these at 39% below the 30-day average price. This move is strategically designed to benefit both FTX creditors and the Solana ecosystem, ensuring a gradual release of tokens over four years to maintain market stability. Amidst the backdrop of FTX’s bankruptcy, this development signals a strong belief in Solana’s resilience and growth prospects. Pantera’s commitment underlines the vibrant potential of Solana, marking a pivotal moment that could shape its trajectory in the competitive blockchain landscape.

Bloomberg