Pantera Capital's exposure to FTX is from its Blockfolio investment
FTX announced that it was facing a liquidity crunch earlier this week and that it would be acquired by rival exchange Binance. The deal with Binance fell through on Wednesday. On Thursday, FTX CEO Sam Bankman-Fried apologized and said that he would look to wind down trading at sister firm Alameda Research.
FTX acquired the crypto data application Blockfolio in 2020 for $150 million. The FTX exposure from the Blockfolio investment is roughly 2% of the firm's total assets under management, said Franklin Bi, Pantera's director of portfolio development, on Twitter. The firm oversees $5.8 billion in assets, according to a recent investment adviser filing, Pantera is one of the oldest investment firms in the crypto industry, having been founded in 2013.
Source
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