Pantera Raising Money to Buy $250 Million Solana Holding From FTX (SOL)

Pantera Capital, the $5.2 billion crypto-focused asset manager, is raising money from large investors to buy deeply discounted Solana tokens from the estate of bankrupt digital-asset exchange FTX.

Pantera is seeking funds for the Pantera Solana Fund, which has an “opportunity” to buy up to $250 million worth of SOL tokens from the FTX estate, according to marketing materials from February sent to prospective investors and seen by Bloomberg. In return for the option of buying SOL at 39% below a 30-day average price or at $59.95, investors must agree to a vesting period as long as four years.