Pantera Capital Acquires 2000 SOL in FTX Auction

IconCrypto News Terminal26 Apr, 2024

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Pantera Capital Acquires 2000 SOL in FTX Auction

Pantera Capital, a cryptocurrency hedge fund, has emerged victorious in an auction for a portion of FTX's SOL holdings. The fund acquired 2,000 SOL, with a winning bid reportedly exceeding $60 per token. This auction is part of FTX's ongoing efforts to gradually sell off its 41 million SOL, which is currently locked up. This latest acquisition by Pantera Capital follows FTX's previous sale of two-thirds of its SOL holdings to Galaxy Trading and other entities at $64 per token. The remaining SOL is expected to be sold gradually over the next four years. Previously on [date], FTX sold two-thirds (25-30 million SOL) of its SOL holdings to Galaxy Trading, Pantera Capital, and others at $64 per share.

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