Pantera's play 💰 Two years on, it seems that FTX still has a little soul left in it. More specifically, their stash of SOL tokens, which has already attracted a very interesting buyer.
Pantera Capital, a notable hedge fund in the cryptocurrency space, is looking to raise money to purchase some of the SOL as part of its new Pantera Solana Fund.
Based on documents sent to potential investors in February 2024, Pantera had the opportunity to purchase up to $250M worth of SOL at a 39% discount below the average 30–day price of $59.95. However, the tokens would have to be vested over the course of four years, which sounds like an eternity in the crypto space. Regardless, the news of such an endeavor by Pantera was seen as a sign of confidence, resulting in SOL's price appreciation of 4.8% from $138.51 to $145.31 today. Following SOL's upward price action, other tokens within the ecosystem, such as RAY and ORCA, also rose by 12.7% and 8.1%, respectively.
Editor's Take:
In hindsight, taking such a deal would sound like a no-brainer, considering that SOL is currently trading at close to 2.5x of the discounted price. However, the typical risks of crypto volatility still stand, especially if you have to stay on the ride for four years. Either way, with current market conditions as it is, we should expect Pantera to provide some updates on the new fund pretty soon. | 
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