Pantera Capital, a crypto-focused investment firm, reportedly has assets in the recently bankrupt Silicon Valley Bank.
Pantera Capital Affected by Silicon Valley Bank Collapse
In recent months, the Silicon Valley Bank published a regulatory report. According to the report, Pantera Capital appeared to have certain assets in the Silicon Valley Bank. Pantera then cited Silicon Valley Bank, BitGo, and Coinbase as the custodians of its assets.
Silicon Valley Bank Collapse
Silicon Valley Bank tried to solve its liquidity problems by taking risks, selling securities, and buying new shares. Trying to solve its liquidity crunch, the Silicon Valley Bank unfortunately failed and had to file for bankruptcy. The California State Financial Conduct Authority and the Federal Deposit Insurance Corporation shut down the Silicon Valley Bank and seized its assets.
Affected by Bankruptcy
After the bankruptcy of the company in question, many investors and companies were victimized. The following companies were affected after the crisis:
- Circle 3.3 billion Dollars
- BlockFi: 227 million Dollars
- Avalanche: 1.6 million Dollars
- Yuga Labs: Uncertain
- Proof: Uncertain
- Nova Labs: Uncertain
In addition to the companies mentioned above, many stablecoins, especially Circle-linked USDC, were affected by the collapse.
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