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Finance

Crypto VC Firm Pantera Used Silicon Valley Bank as a Custodian

A regulatory filing shows the shuttered bank as one of three custodians for Pantera’s funds.

By Brandy Betz
AccessTimeIconMar 10, 2023 at 10:59 p.m. UTC
Updated May 9, 2023 at 4:10 a.m. UTC
Pantera Capital CEO Dan Morehead (Shutterstock/CoinDesk)
Pantera Capital CEO Dan Morehead (Shutterstock/CoinDesk)

Crypto-focused venture capital and investment giant Pantera Capital recently had assets with now-shuttered Silicon Valley Bank (SVB), according to a regulatory filing last month.

In a Form ADV dated Feb. 3, Pantera listed SVB as one of three custodians for its private funds alongside BitGo and the custodial service of crypto exchange Coinbase. The filing is a requirement for registered investment advisers.

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    • CoinDesk reached out to Pantera for comment but had not received a response by publication time.

    Pantera restructured its upper management last month after the departure of co-chief investment officer Joey Krug. The firm revealed in January that its liquid token fund lost 80% during 2022.

    Read more: How Silvergate’s Crypto Collapse Differed From Silicon Valley Bank’s: No Bailout

    Disclosure

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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Brandy Betz
    Brandy Betz

    Brandy covered crypto-related venture capital deals for CoinDesk.

    Follow @BrandyBetz on Twitter