the main thing here is, Pantera essentially controls the #1 exchange that the whole community keys off of. and they probably can see the internal order books. why not manipulate it for the chance to make extraordinary life changing profits?
Now I see what you mean. I completely forgot that Pantera invested in Bitstamp. Do they have majority share?
as far as i know, they are the only investment fund with a stake in Bitstamp.