Bloomberg: Pantera is raising funds to buy heavily discounted SOL from FTX Estate

Pantera Capital is buying money from large investors to purchase discounted Solana tokens from FTX Estate, Bloomberg reports.

The fund has the opportunity to buy $250 million in SOL tokens from FTX Estate, according to February marketing materials worth sent to potential consumers seen by Bloomberg. In exchange for the option to buy SOL at 39 per cent below the 30-day average price, or $59.95, investors must agree to an ownership period of up to four years.

Pantera said FFTX Estate has 41.1 million SOL tokens worth $5.4 billion as of Wednesday, about 10 per cent of the total supply.