{"id":11425,"date":"2024-03-08T14:10:22","date_gmt":"2024-03-08T12:10:22","guid":{"rendered":"https:\/\/forklog.com\/en\/pantera-capital-to-invest-250-million-in-solana-from-ftx\/"},"modified":"2024-03-08T14:10:22","modified_gmt":"2024-03-08T12:10:22","slug":"pantera-capital-to-invest-250-million-in-solana-from-ftx","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/pantera-capital-to-invest-250-million-in-solana-from-ftx\/","title":{"rendered":"Pantera Capital to Invest $250 Million in Solana from FTX"},"content":{"rendered":"<p>Digital asset manager Pantera Capital aimed to raise up to $250 million by the end of February to purchase Solana (SOL) from FTX, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-03-07\/pantera-raising-money-to-buy-250-million-solana-holding-from-ftx-sol?sref=IIP4JEyu\">Bloomberg<\/a>.<\/p>\n<p>Journalists examined materials intended for potential investors.<\/p>\n<p>The minimum investment threshold was set at $25 million.<\/p>\n<p>The annual management fee was 0.75%. Pantera Capital would waive this fee if the profitability level did not reach 10%.<\/p>\n<p>According to the presentation, FTX holds approximately 41.1 million SOL \u2014 10% of Solana&#8217;s supply \u2014 valued at $6.1 billion.<\/p>\n<p>Pantera Capital seeks to acquire Solana at $59.95, representing a 59.6% discount to the current price of $148.34, according to <a href=\"https:\/\/www.coingecko.com\/\">CoinGecko<\/a>.<\/p>\n<p>The offer includes a lock-up period of up to four years.<\/p>\n<p>The news boosted Solana&#8217;s price, with a 2.5% increase within the following hour. Daily growth reached <a href=\"https:\/\/www.coingecko.com\/en\/coins\/solana\">4.6%<\/a>. Over the past 30 days, the coin has risen by 54.5%.<\/p>\n<p>The deal&#8217;s execution would provide additional liquidity for the management of the reorganizing exchange to pay creditors.<\/p>\n<p>On February 22, the Delaware bankruptcy court approved the sale of FTX&#8217;s 7.84% stake in AI company Anthropic for $1 billion.<\/p>\n<p>On March 5, the liquidating lending platform BlockFi <a href=\"https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.njb.1094078\/gov.uscourts.njb.1094078.2172.0.pdf\">reached<\/a> a principal agreement to settle claims against FTX and Alameda for $874.5 million.<\/p>\n<p>In December 2023, the exchange presented a revised reorganization plan. According to the document, assets will be valued at the rate on the bankruptcy filing date \u2014 November 11, 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Digital asset manager Pantera Capital aimed to raise up to $250 million by the end of February to purchase Solana (SOL) from FTX, according to Bloomberg. Journalists examined materials intended for potential investors. The minimum investment threshold was set at $25 million. The annual management fee was 0.75%. Pantera Capital would waive this fee if [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11424,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1236,1296,1159],"class_list":["post-11425","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ftx","tag-pantera-capital","tag-solana-sol"],"aioseo_notices":[],"amp_enabled":true,"views":"71","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/11425","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=11425"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/11425\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/11424"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=11425"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=11425"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=11425"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}