The Pantera Capital Fund, which withdrew almost 80% of its investment in Terra LUNA, is lucky to be spared the damage from the crash of TerraUSD (UST).
Pantera co-founder Paul Veradittakit said the fund withdrew about 80% of its investment in Terra LUNA over the past year, turning $1.7 million into about $170 million.
About two-thirds of the remaining investments in LUNA were sold for an average price of $25.60, while the rest were unsold because they were locked in LunaX.
Joey Krug, CIO at Pantera, said the fund sold investments in LUNA to diversify its portfolio.
Pantera is one of the well-known investment funds that poured US$150 million into the Terra ecosystem in July 2021, along with Arrington Capital and Galaxy Digital.
Pantera also participated in Terra’s $25 million funding round in January 2021.