According to a regulatory document that was published this month, crypto-focused venture capital and investing behemoth Pantera Capital formerly owned assets with a bank known as Silicon Valley Bank, which is no longer in existence (SVB).
SVB was listed as one of the three custodians accountable for the company’s private funds on a Form ADV that was submitted by Pantera on February 3rd. The two other businesses that acted in the capacity of custodian were BitGo and the custodial service that was provided by the bitcoin exchange Coinbase. Only investment advisers who are already registered with the SEC are needed to submit the paperwork; those who are not registered must not do so.
CoinDesk attempted to get in touch with Pantera prior to the time of publication in order to obtain their viewpoint on the subject, but we had not yet heard back from them at the time of publication.
As a result of Joey Krug’s decision to step down from his role as the company’s co-chief investment officer, Pantera recently underwent a reorganization of its upper management. This change was made in reaction to Krug’s decision. The corporation announced in January of this year that eighty percent of the liquid token fund had been lost, and the information was made public by the company (2022).
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- Source: https://bitcoinworld.co.in/crypto-vc-firm-pantera-used-silicon-valley-bank-as-a-custodian/