Pantera Capital made an 80 percent profit before the LUNA crash

Must Read

Harmony’s $100M Hack Was Due to a Compromised Multi-Sig Scheme, Says Analyst

Harmony’s Multi-Sig Exploited Polygon’s CSO Says, Harmony Protocol’s Founder Found Evidence That ‘Private Keys Were Compromised’

Uniswap Set To Add NFTs To Its Product Lineup With Latest Acquisition

On Tuesday, a popular crypto start-up and founders of a leading decentralized exchange of the name Uniswap...

Yuga Labs vs. Ryder Ripps: Decoding the impact of the lawsuit on the performance of ‘Apes’

Yuga Labs is the limelight again. However, this time around the NFT giant announced that it has...

Even if the recent Luna collapse rocked the cryptocurrency community, not everyone is suffering during this trying time. Pantera Capital, a venture capital firm that had long supported Terra before the crisis, was able to cash out 80 percent of its investment and profit handsomely. Let’s look at how Pantera Capital profited from the cryptocurrency crisis.

Pantera Capital made a $25 million investment in LUNA in the beginning of 2021. In addition, Pantera Capital joined Terra Luna’s $150 million ecosystem fund later in the summer. Pantera Capital’s co-chief investment manager Joey Krug clarified that the LUNA investments made in the summer of 2020, shortly after Luna currency entered the crypto market, are distinct from the VC firm’s Terraform Labs investments. Ultimately, these efforts were motivated by fast developer uptake and a diverse ecosystem.

Furthermore, Joey Krug said that the venture capital firm began cashing out throughout the year. ‘We’d liquidated the bulk of our investments before the UST fall since the market had been very bubbly during the year,‘ recalls Joey Krug.

Furthermore, Paul Veradittakit, a partner at Pantera Capital, has calculated that the VC firm has achieved a massive profit of $169 million since the funds were invested. The deposit was just $1.7 million from the start.

A major decentralized financial network called Anchor, on the other hand, has a total value locked (TVL) of $16 billion. The TVL is now worth slightly over $150 million after the stablecoin fall. Moreover, the financial platform’s APY (annual percentage yield) had to be reduced from 20% to only 4%.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Harmony’s $100M Hack Was Due to a Compromised Multi-Sig Scheme, Says Analyst

Harmony’s Multi-Sig Exploited Polygon’s CSO Says, Harmony Protocol’s Founder Found Evidence That ‘Private Keys Were Compromised’

Uniswap Set To Add NFTs To Its Product Lineup With Latest Acquisition

On Tuesday, a popular crypto start-up and founders of a leading decentralized exchange of the name Uniswap announced the acquisition of Genie,...

Yuga Labs vs. Ryder Ripps: Decoding the impact of the lawsuit on the performance of ‘Apes’

Yuga Labs is the limelight again. However, this time around the NFT giant announced that it has filed a lawsuit against old...

Anonymous vows to bring Do Kwon’s ‘crimes’ to light

Hacktivist group Anonymous has pledged to “make sure” Terra co-founder Do Kwon is “brought to justice as soon as possible” in regard...

SEC requests comments on the guidelines for ICO portals

To avoid conflicts of interest and clarify the rules of outsourcing, the Securities and Exchange Commission (SEC) asks the public for feedback...
- Advertisement -

More Articles Like This