🧵 1/ Solana's price surges 13% as Pantera Capital eyes $250M purchase of FTX's SOL tokens at a discount, aiming for $59.95 per token, to hold for up to 4 years. #finance
🧵 1/ Solana's price surges 13% as Pantera Capital eyes $250M purchase of FTX's SOL tokens at a discount, aiming for $59.95 per token, to hold for up to 4 years. #finance
🧵 2/ Pantera's move detailed in a marketing sheet shared with Bloomberg, estimating FTX holds $5.8B worth of SOL, about 7% of total supply and 9% in circulation.
🧵 3/ FTX filed for bankruptcy in 2022, approved to sell $3.4B of Bitcoin, Ethereum, Solana with limits. Pantera raised funds for venture with minimum $25M investment.
🧵 4/ SOL community reacts positively to news, with SOL hitting 2-year high of $142.51, up 13%. Pantera's venture includes 0.75% management fee and 10% performance fee.
🧵 Read more at: https://decrypt.co/220563/solana-up-13-pantera-buying-ftx-sol