Venture capital firm Pantera Capital liquidated the majority of Terra (LUNA) investments before the crash, closing its positions with profit.
TerraForm LabOther venture capital firms backing s Terra’s algorithmic stablecoin TerraUSD (UST) with depeg last week LUNA while experiencing huge losses in their investments Pantera CapitalLUNA investment about 80% of before the crash last week cash turned it.
Pantera Capital’s chief investment officer Joey Krug About the subject, “Last year the market was pretty bubbly, so we exited most of our positions before what happened. We have gradually closed 80% of our LUNA position over the past year.” said.
LUNA investments, diversify their portfolio Expressing that they reduce by selling as the land goes, Krug stated that they initially invested in LUNA because of the progress they saw in the ecosystem built on Terra.
Exiting most of its investment early, the company made a substantial profit from LUNA. Partner of Pantera Capital Paul Veradittakit, The Blockthe company told $1.7 million your investment $170 million He said he translated it.
When Krug realized that UST was depeg last week the remaining 20% of the company’s investment He also stated that they sold most of them: “We came out of 2/3 of that with an average price of $25.6. We converted and staked the remaining liquid staking token of Stader Labs into LunaX. That’s why we won’t sell it.”
Krug also explained that Pantera’s investments in LUNA are separate from their investments in TerraForm Labs and occurred in 2020 after the launch of LUNA.
The company known to have invested in TerraForm Labs at least twice, January 2021took place in $25 million supported the funding round and July 2021‘also 150 million dollars had participated in the ecosystem fund tour.