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Huge Terra Supporter Pantera Capital Cashed Out 80% Prior to LUNA Crash -Breaking

by Mike Robinson

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Huge Terra Supporter Pantera Capital Cashed Out 80% before the LUNA crash

The recent Luna crash has been a major shock to the crypto market, but not everyone is suffering. Pantera Capital was a veteran venture capital firm that Pantera Capital had backed before the crash. They were able to cash out 80% and make huge profits. Let’s break down on how Pantera Capital managed to use the crypto crash for their benefit.

What was the Start of the Partnership?

Pantera Capital first invested in LUNA during the 2021 start, which was when Pantera paid $25 million. Pantera Capital was later added to the Terra Luna ecosystem fund, which is worth $150 million. 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. These investments were made in order to accelerate developer adoption and create a broad ecosystem.

Pantera Says It’s All About Timing

Joey Krug said that the venture capital firm started withdrawing slowly throughout the year. ‘The market has been fairly frothy over the year and thus we’d exited the majority of our positions before the UST crash happened’, – says Joey Krug.

Paul Veradittakit (a Pantera Capital Partner) has accumulated an impressive profit of approximately $169 million since Pantera Capital invested the funds. It cost $1.7million to deposit the first money.

Anchor, an eminent decentralized financial platform, had $16 billion in total value locked (TVL). After the stablecoin crash the TVL is now just under $150 million. In addition, the platform’s annual percentage yield had to be reduced from 20% to 4%.

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