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According to Bloomberg, Pantera Capital is raising funds to purchase FTX's Solana assets.
Accordingly, $5.2 billion crypto-focused asset manager Pantera Capital is raising money from large investors to buy deeply discounted Solana tokens held by bankrupt cryptocurrency exchange FTX.
Pantera Capital is seeking funding to purchase up to $250 million of FTX's holdings of SOL tokens through its “Pantera Solana Fund,” according to marketing materials sent to potential investors in February and seen by Bloomberg.
In exchange for the option to purchase SOL at $59.95, 39% below the 30-day average price, investors must agree to a vesting period as long as four years.
After the news, Solana (SOL) price started to rise.
The news will be updated.
*This is not investment advice.