Pantera Capital Faces Greater Exodus of Top Executives than Previously Reported

UTC by Bhushan Akolkar · 2 min read
Pantera Capital Faces Greater Exodus of Top Executives than Previously Reported
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Top executives have been leaving Pantera Capital over the last few months in just few months of joining.

Major crypto hedge fund and venture capital investor Pantera Capital is facing a strong exodus of top executives lately. As per people familiar with the matter, the departures of senior executives could be broader than previously projected.

Sources familiar with the matter said that Chief Technical Officer Terence Schofield could be leaving the firm after joining earlier this year. Also, John Johnson, head of Pantera’s capital formation team would soon announce an exit.

Pantera Capital, the crypto venture capital and hedge fund helmed by Dan Morehead, is undergoing a rough phase. This is especially true with the major corrections taking place in the crypto market. Overleveraged crypto hedge funds like Three Arrrows Capital (3AC) have faced bankruptcy during this year’s market crash.

However, Pantera hasn’t faced as dire situations as that of 3AC. It turns out that Pantera was lucky enough to avoid the blow of Terra LUNA ecosystem crash while cashing out just ahead of the May event. Previously, Pantera had revealed that it cashed out a staggering 80% of its investments before the collapse of Terra’s UST stablecoin. Partner at Pantera Capital, Paul Veradittakit, revealed that the firm generated around $170 million from $1.7 million owing to its early exit.

Why Are Top Executives Leaving Pantera?

The recent exodus of some of the top executives from the hedge fund raises additional concerns. Reportedly, Pantera Capital Chief Operating Officer Samir Shah has also left the firm last month. Shah’s LinkedIn profile misses his job description who seems to have reportedly left after two months of joining Pantera.

Shah joined Pantera Capital this year in July after serving as the head of asset management sales at JPMorgan (JPM) for 12 long years. He was “excited to partner with Dan Morehead, Joey Krug, and the broader Pantera team to help take the organization to new heights!”

Before Shah, Pantera’s legal counsel Joe Cisewski had left to become the Commodity Futures Trading Commission (CFTC) Commissioner. None of these executives have shared their reason behind leaving the company. On the other hand, Pantera Capital has released no statement in this regard. Pantera Capital has been in the crypto space for more than a decade now.

Business News, Cryptocurrency news, News
Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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