May 31, 2022
UST and LUNA collapse cost investors billions of dollars in just a few days this month.
According to the CNBC report, Pantera Capital cashed out its holding worth of $171 million on a $1.7 million initial investment.
Pantera Capital sold 87% of its holdings from January to April and then 8% more in May. The hedge fund is still left with 5%.
The Winklevoss-backed CMCC Global closed its position on LUNA back in March.
Mike Novogratz’s Galaxy Digital revealed in its Q1 earning fillings that LUNA was a major asset in its net realized gain on cryptocurrencies of $355 million.
Three Arrows Capital, Lightspeed Venture Partners and Coinbase Ventures were among the major Terraform Labs backers.