Pantera Capital Acquires SOL Tokens at FTX Auction

Pantera Capital emerged as the winner in an auction organized by the management of the bankrupt FTX for the sale of Solana (SOL) tokens, according to sources cited by Bloomberg.

Other unnamed participants also acquired assets. The organizers distributed 2000 SOL, valued at $0.29 million.

The tokens were sold at a higher price than the ~$60 fetched in a previous auction, sources indicate. For comparison, the SOL price at the time of writing is $142.7. They also mentioned that further auctions are anticipated.

In April, FTX creditors were outraged by the sale of two-thirds of the company’s SOL reserves at a 62% discount through a private sale. The tokens were purchased by Galaxy Trading, Pantera Capital, and other organizations. Access will gradually be unlocked over four years.

The price of SOL remained unaffected by the news. According to CoinGecko, the asset decreased by 0.6% over the past day.

In March, ForkLog reported on Pantera Capital’s plans to raise up to $250 million to purchase SOL from FTX.

Back in February, representatives from Sullivan & Cromwell assured that creditors of the collapsed exchange would receive 100% reimbursement of assets.