First of all, Pantera Capital invested in LUNA at the beginning of 2021, when Pantera funded the $25 million rally. Later in summer, Pantera Capital joined the $150 million ecosystem fund of Terra Luna. However, Pantera Capital’s co-chief investment manager Joey Krug emphasized that the LUNA investments made in the summer of 2020, right after Luna token made an entrance into the crypto market, are different from the VC company’s investments made in Terraform Labs. Ultimately, the reasoning behind these investments was rapid progress in developer adoption and a wide ecosystem.
Pantera Says It’s All About Timing
Moreover, Joey Krug explained that the venture capital company started cashing out gradually over the year. ‘The market has been fairly frothy over the year and thus we’d exited the majority of our positions before the UST crash happened’, – says Joey Krug.
In contrast, a popular decentralized financial platform Anchor had a total value locked (TVL) of $16 billion. Now, after the stablecoin crash, the TVL sits at just over $150 million. Furthermore, the financial platform had to reduce its APY (annual percentage yield) from 20% to just 4%.
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Source: Cryptocurrency - investing.com
