Pantera Capital dodged bullet, says exited Terra before crash: report

Pantera Capital dodged bullet, says exited Terra before crash

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Terraform Labs backer Pantera Capital gradually withdrew nearly 80% of its Terra LUNA holdings over the past year, saving itself from significant damages from the de-pegging of TerraUSD (UST) and the network’s collapse last week, The Block reported.

See related article: LUNA, UST investors in S.Korea want to seize Do Kwon’s properties: report

Fast facts

  • Pantera liquidated around 80% of its investment in Terra LUNA over the past year, turning US$1.7 million into about US$170 million, Pantera partner Paul Veradittakit told The Block. 
  • About two-thirds of its remaining investment in LUNA was liquidated at an average price of US$25.60, while the rest could not be sold as they were locked in staking protocol LunaX. 
  • Joey Krug, co-CIO at Pantera, said the firm sold its investments in LUNA to diversify its portfolio. 
  • Pantera was among a star-studded lineup of investors pouring US$150 million into the Terra ecosystem in July 2021, alongside the likes of  Arrington Capital and Galaxy Digital. 

See related article: Terra commences voting on Do Kwon’s LUNA revival plan

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