Pantera Capital, a crypto asset manager, is raising money to finance the purchase of Solana’s smart contract platform.SOL) from bankrupt crypto exchange FTX.
According to a new report Pantera has announced that it is raising funds for the purchase of $250 million in Ethereum.ETHThe failed digital asset exchange is a rival to ).
According to the report, marketing materials sent in February to potential investors stipulated that, in exchange for being able to buy SOL for 39% of its average 30-day price, investors must agree to keep the digital asset at least for four years.
Solana currently trades for $147, an increase of 14.2% in the last 24 hour and over 600% since last year.
According to the report, those who want to take part would need to contribute at least $25,000,000 in funding.
Pantera had originally hoped to have the funds by the middle of February. Bloomberg reported that an anonymous source with knowledge on the matter said they were not able to reach their goal, but did raise a certain amount.
Lookonchain, a blockchain tracking service, released its December 2018 report. found Coinbase, the largest crypto exchange in the US, has reported that $90,000,000 worth of Solana, potentially linked to FTX, was unstaked.
In September, court documents revealed that FTX – which went bankrupt in November 2022 after its founder Sam Bankman-Fried was accused of defrauding investors and mishandling billions of dollars worth of customer funds – held over $1.16 billion worth of Solana at the time.
Bankman-Fried, who was found guilty of the crime last year, is currently waiting for his sentence.
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Source: dailyhodl.com