Pantera Capital, a crypto asset manager, has reportedly emerged as the winner of a bid to acquire discounted Solana (SOL) from the bankrupt crypto exchange platform FTX. According to an anonymous source familiar with the matter, Pantera secured a deal to purchase a discounted stash of the Ethereum rival.
While the specific details of the agreement have not been disclosed publicly, the source revealed that 2,000 SOL tokens were sold this week. In April, FTX sold approximately 66% of its $2.6 billion SOL reserve at a discounted price of around $60.
As of the time of writing, SOL is trading at $142, marking a 1.85% decrease in the last 24 hours. Notably, on November 1st, SOL was trading at just $41.40.
The report highlights that the Solana tokens sold by FTX are subject to a predetermined vesting period and must be held for a minimum of four years.
While the exact details of the sale remain undisclosed, the anonymous source mentioned that the tokens were sold at a higher price compared to the previous auction, where they were priced at $60.
In March, Pantera announced its plan to raise $250 million to facilitate the purchase of Solana from the failed digital asset exchange. Originally, the firm had aimed to secure the funds by February but was unable to meet the deadline.
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