FTX Estate to Auction 22.3 Million Worldcoin Tokens
FTX Estate is set to auction 22.3 million Worldcoin (WLD) tokens at a significant discount, currently valued at $35 million. This sale is part of the ongoing efforts to recover funds for creditors of the bankrupt crypto exchange founded by Sam Bankman-Fried.
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According to insider sources, the discount could be as high as 75% off WLD’s current spot market price.
Investors need to submit their bids by 8:00 PM ET on October 3. The minimum bid to participate in the auction is set at $2.5 million.
It’s important to note that these Worldcoin tokens are currently locked. The unlock period will begin on December 1, 2024, and continue for at least four years. From then until July 24, 2026, 20,500 WLD tokens will be unlocked daily. After that, the daily unlock amount will decrease to around 13,700 tokens, continuing until July 24, 2028.
Read more: Worldcoin Launch: What Happens When You Stare Into the Abyss?
WLD Price Dynamics Source: coinmarketcap.com
Since FTX Estate holds only 22.3 million WLD, this will be the final auction for these tokens.
Earlier this year, FTX Estate completed a discounted sale of its Solana holdings. Despite the market price of Solana being $180, the tokens were sold at $102.
This discounting approach has angered some FTX creditors, who are concerned that their claims may not be fully covered due to insufficient funds.
FTX had $10 billion in Solana tokens — they sold at a 70% discount
said creditor Sunil Kavuri.
Previously, we reported that part of the proceeds from the liquidation of FTX assets will be used to pay preferred shareholders.
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