WLD Price Records Weekly Fall Over 20% as FTX Estate Auctions 22.3M WLD Tokens

WLD price fell over 2% when it was reported that the FTX estate was preparing to auction 22.3 million locked Worldcoin WLD tokens

The FTX estate is preparing to auction 22.3 million locked Worldcoin (WLD) tokens, valued at roughly $37.7 million at a discount, as part of its recovery efforts for its creditors, according to an announcement on Wednesday.

Interested buyers are expected to submit their bids by midnight UTC on Wednesday. Successful or accepted bidders will be notified on Thursday. The WLD tokens will be offered at a discount in the range of 40% to 75% off the current WLD price of close to $1.69.

The estate has a total of 22.3 million WLD tokens, which means there will be no further auctions for WLD tokens. The WLD tokens will unlock daily up to 2028: the first lot of 20,539 WLD tokens will unlock daily from 1 December 2024 to 24 July 2026, and the second lot of 13,689 WLD tokens will unlock daily starting from 25 July 2026 to 24 July 2028.

However, one of the sources below, coupled with a fourth source, felt uncomfortable with the long lock-up of these tokens.

According to an announcement by Mike Cagney, co-founder and chief executive of Figure Markets, the FTX estate is auctioning its position in Worldcoin WLD tokens, and the price could be discounted by more than 75%. He said these WLD tokens will be unlocked daily until the year 2028.

Figure Markets is considering creating a fund to bid on the WLD token auction, just like the firm did with the FTX estate’s Solana auction earlier this year, Cagney said.

The FTX estate sold its holdings in Solana and Metaplex tokens earlier this year before selling its stake in Worldcoin. In May, it reportedly completed the sale of its $7.5 billion over-subscribed portfolio of Solana tokens at a discount to interested investors, which included Pantera Capital, among others.

The project, which is known for its unique ‘orb’ verification method, recently announced the expansion of World ID verification to Poland, highlighting the growing reach and adoption of the World ID system.

Last month, some crypto funds, including Pantera Capital and ParaFi Capital, acquired 62.6 million MPLX tokens from Wave Digital Assets, which were previously held by the FTX estate.

According to data from Arkham, the FTX estate has $594 million in residual assets, of which $541 million is in the highly illiquid FTT token, which the estate has marked down to zero.

According to technical analysis, the WLD price may increase during 2025. Concretely, the lowest rate could be $3.56, while the highest might reach $4.29. This year’s average forecast is about $4.00, with quite positive expectations for this token.

Worldcoin is the crypto startup from OpenAI founder Sam Altman. Altman is also the co-founder and CEO of OpenAI, the AI research and deployment company behind ChatGPT and DALL-E.

OpenAI has recently closed $6.6 billion in new funding, concluding a drawn-out fundraising effort that involved negotiations with several of the major tech companies and a number of international investors. Competition and interest in the sector continue to rise.

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