Arkham AI Identifies Pantera Capital Addresses

‍

Arkham’s AI model, ULTRA, has identified four addresses potentially belonging to Pantera Capital which currently hold over 320M Ondo Finance (ONDO) tokens, worth $346M. The tokens were first received by intermediary addresses from the Ondo Finance Gnosis Safe Proxy (0x677), before being transferred to their current holding addresses. The holding addresses are currently in profit in excess of $300M. 

These massive holdings are likely the result of Pantera’s early conviction in the project, having co-led Ondo’s $20 million Series A round in 2022. In venture capital crypto deals, early backers typically receive tokens subject to strict vesting schedules—contractual lock-ups that release assets gradually over years. This structure ensures investors remain aligned with the protocol's long-term success rather than selling immediately upon launch to capture quick profits.

‍

‍

One of Pantera Capital’s addresses, 0xC5d, currently ranks as the fourth largest holder of ONDO on the list of ONDO top holders. Counting these four newly identified addresses, Pantera Capital ranks as the second largest holder of ONDO tokens, only behind the Ondo Finance Gnosis Safe.

‍

‍

Pantera Capital is one of crypto’s oldest and largest crypto funds, having launched in 2013 under Tiger Cub Dan Morehead. Today, they have expanded to venture capital strategies as well and have amassed more than $4.4B in assets under management across three fund strategies.

For the broader market, the identification of these wallets by Arkham’s ULTRA engine removes a layer of opacity previously inherent to private sales. While confirming Pantera's "diamond hand" status can boost confidence, it also subjects the price of ONDO to increased scrutiny; traders will now monitor these specific addresses for any outbound transfers, viewing them as early warning signals of potential institutional profit-taking.