Pantera Capital’s Custody Services and Management Overhaul

03/11/2023 23:18 • AI & Tech Insights • 68 views

It is reported that according to a regulatory document last month, Pantera Capital, a venture capital and investment giant focusing on cryptocurrency, recently had assets with the closed Silicon Valley Bank (SVB). In the ADV form on February 3, Pantera listed SVB as one of the three custodians of its private funds, and the other two were the custody services of BitGo and Coinbase. After the resignation of Joey Krug, the co-chief investment officer, Pantera reorganized the senior management last month. The company disclosed in January this year that its liquidity token fund lost 80% in 2022.

Pantera, a crypto venture capital company, uses Silicon Valley Bank as its custodian

Analysis based on this information:

The recent regulatory document last month reveals that Pantera Capital, a major venture capital and investment company in the cryptocurrency space, had assets with Silicon Valley Bank (SVB) before its closure. In the ADV form submission on February 3, Pantera Capital disclosed that SVB was one of the three custodians of its private funds, with the other two being BitGo and Coinbase.

This move follows after the reorganization of senior management last month that came after the resignation of Joey Krug, the co-chief investment officer of Pantera Capital. Notably, in January, the company disclosed a loss of 80% for its liquidity token fund in 2022.

Custodians play a crucial role in ensuring the safety and security of digital assets, especially given the relatively new and volatile nature of cryptocurrency. For Pantera Capital to have SVB as a custodian highlights its commitment to partnering with reliable and leading banking institutions to protect its assets.

The change in senior management following the resignation of Krug could imply that Pantera Capital is looking to recalibrate its investment strategies and focus on creating a robust risk management framework moving forward. This is particularly important in light of the high volatility in the cryptocurrency market and the recent downturn that has seen significant losses for digital assets.

Overall, Pantera Capital’s choice of custodians and reorganization of senior management reflect its commitment to risk management and security in the cryptocurrency space. With this move, Pantera Capital is positioning itself as a leading venture capital firm in the digital asset landscape.

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