In the vast and often bewildering world of cryptocurrency, where every day brings a new adventure, Pantera Capital, a firm known for its daring investments, is reportedly plotting a grand scheme. They aim to raise a staggering sum of $1.25 billion to transform a humble Nasdaq-listed company into something far more exotic: “Solana Co.”-a public vehicle dedicated to hoarding Solana (SOL) tokens as if they were the lost treasures of Atlantis.
The audacity! The plan, as reported by The Information, starts with a modest $500 million raise, followed by an additional $750 million through warrants. It’s almost as if they’re trying to buy the moon and all its craters. 🌕
This latest escapade comes on the heels of Pantera’s quieter, yet equally ambitious, investments totaling around $300 million in digital asset treasury (DAT) firms. These firms, scattered across various tokens and regions, are like the knights in shining armor, tasked with growing net asset value and generating yield. Who needs a dragon’s hoard when you can have a digital one?
Pantera’s history with Solana is rich, much like a Russian novel. They’ve already invested in ventures such as Twenty One Capital, DeFi Development Corp, and Sharplink Gaming. This week, they’ve joined forces with ParaFi Capital to support Sharps Technology, another Solana treasury vehicle with aspirations of raising over $400 million. It’s a veritable Solana symphony, with Pantera conducting the orchestra.
Rising Trend of Public Solana Treasuries
Smaller Nasdaq-listed firms, sensing the winds of change, are also turning their gaze toward Solana. DeFi Development Corp, for instance, has doubled its holdings to over 163,000 SOL (worth about $21 million), while Classover has purchased 6,500 SOL as part of a $500 million convertible note program. It’s as if they’re all racing to be the first to find the golden ticket in a Wonka bar, but with a blockchain twist.
Not to be outdone, Canadian firms SOL Strategies and Torrent Capital hold $62 million and $6.4 million, respectively. Together, these public Solana treasuries now exceed $695 million, or 0.69% of SOL’s total supply. A small fortune, indeed, but in the world of crypto, it’s just the beginning.
However, the rise of a single entity controlling a significant portion of SOL could introduce a new level of market volatility. Shawn Young of MEXC Research, a man who knows his way around the intricacies of the market, warns that while firms like Pantera bring much-needed attention, they also wield considerable influence over token liquidity and trading. It’s a delicate balance, much like trying to dance on the head of a pin while juggling chainsaws. 🔪💃
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2025-08-26 11:28