Terra backer Pantera Capital says it cashed out 80% of investment before UST crash

05/19 00:49

Pantera Capital, one of the high-profile backers of Terraform Labs, cashed out nearly 80% of its Terra (LUNA) investment well before TerraUSD (UST) collapsed last week. "The market has been fairly frothy over the last year and thus we'd exited the majority of our position before any of this happened," Joey Krug, co-chief investment officer at Pantera Capital, told The Block. "Roughly 80% over the last year, fairly gradually over time." Pantera Capital invested at least twice in Terraform Labs — once backing its $25 million round in January 2021 and then joining its $150 million ecosystem fund round in July 2021.
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