Huge Terra Supporter Pantera Capital Cashed Out 80% Prior to LUNA Crash
Huge Terra Supporter Pantera Capital Cashed Out 80% Prior to LUNA Crash
Even though the recent crash of Luna shook up the crypto world, not everybody is in the red during this burdensome period. Pantera Capital, a venture capital company that has backed Terra for a long time prior to the crash, managed to not only cash out 80%, but also make a massive profit. Let’s break down on how Pantera Capital managed to use the crypto crash for their benefit.
JUST IN: Pantera Capital has confirmed that they sold 80% of their $LUNA investment ($170 million) before the crash.
— Watcher.Guru (@WatcherGuru) May 19, 2024
How Did the Partnership Start
First of all, Pantera Capital invested in LUNA at the beginning of 2021, when Pantera funded the $25 million rally. Later in summer, Pantera Capital joined the $150 million ecosystem fund of Terra Luna. However, Pantera Capital’s co-chief investment manager Joey Krug emphasized that the LUNA investments made in the summer of 2020, right after Luna token made an entrance into the crypto market, are different from the VC company’s investments made in Terraform Labs. Ultimately, the reasoning behind these investments was rapid progress in developer adoption and a wide ecosystem.
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