Pantera Capital Seeks Investors for Solana Acquisition

Cryptocurrency asset management firm Pantera Capital is seeking funding from major investors to acquire Solana (SOL) tokens from the bankrupt FTX estate.

Pandora Capital Seeks Funding for Discounted Acquisition of SOL Tokens From FTX, Imposes Four-Year Holding Period

Pantera Capital is reaching out to major investors to secure funding for its Pantera Solana Fund, aiming to purchase up to $250 million worth of SOL tokens from FTX at a discounted rate.

Investors have the opportunity to buy SOL tokens at a significant discount, approximately 39% below the average price of the last 30 days, priced at $59.95. However, there is a stipulation that investors must hold onto these tokens for up to four years before they can sell them.

Previously associated with Sam Bankman-Fried, SOL was referred to as a "Sam Coin." Bankman-Fried and his companies heavily invested in SOL-linked projects and assets, promoting its brand extensively before FTX's collapse in November 2022.

SOL Token Surges Back with Over 680% Recovery Amidst Solana Ecosystem's Resilience

Despite the initial setback following FTX's downfall, SOL has demonstrated remarkable resilience in the face of adversity. Its sharp decline, which led to an $8 billion loss for investors, was undoubtedly a significant blow. However, the token has since staged an impressive recovery, defying expectations and rebounding by over 680% in the past year.

This resurgence highlights the underlying strength and potential of the Solana ecosystem. Despite facing challenges and market fluctuations, SOL has managed to attract renewed investor confidence and support. Its current trading price of approximately $144.24 as of Friday reflects the growing optimism surrounding the token and its future prospects.

Pandora Plans Gradual Sale of SOL Tokens Held by FTX Liquidators to Maintain Market Stability

As Pantera's proposal seeks to address the significant stake of SOL tokens held by FTX liquidators, it aims to implement a structured approach to selling these assets. By facilitating a gradual sale of the 41.1 million SOL coins, valued at $5.4 billion, Pantera intends to alleviate potential market pressures and minimize disruption to the Solana ecosystem.

The gradual sale strategy is designed to prevent large-scale sell-offs that could negatively impact SOL's market price and investor sentiment. Instead, it aims to execute the sales strategically over a specified period, allowing for orderly distribution and absorption by the market.

Pantera's proactive approach to addressing the situation reflects its commitment to safeguarding the interests of SOL token holders and maintaining stability within the Solana ecosystem. By implementing a carefully managed sale process, Pantera aims to navigate the complexities of the situation while maximizing value for all stakeholders involved.