Nino, you should probably use
glBlendFunc GL_SRC_ALPHA, GL_ONE_MINUS_SRC_ALPHA
otherwise you'll end up with a bit of a glow effect - or perhaps that's what you wanted in the first place?
ie. right now you have (0.4 in the alpha colour)
pixel = 0.4 * src + 1.0 * dst.
which is src and dst are both white would give you 1.4 * white (ie. overbright, so some colours near-white will end up white).
In the version I posted you have
pixel = 0.4 * src + (1.0-0.4) * dst.
which has a maximum of 1.0.
Jim