{"id":30332,"date":"2024-10-03T01:00:47","date_gmt":"2024-10-02T22:00:47","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=30332"},"modified":"2024-10-02T22:55:33","modified_gmt":"2024-10-02T19:55:33","slug":"ftx-plans-worldcoin-token-sale-at-75-discount","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/ftx-plans-worldcoin-token-sale-at-75-discount\/","title":{"rendered":"FTX Plans Worldcoin Token Sale at 75% Discount"},"content":{"rendered":"

Three sources with firsthand knowledge of the situation say the FTX<\/strong> estate is poised to auction 22.3 million locked Worldcoin tokens, now worth at roughly $37.7 million, at a notable discount. The sale is a part of the continuous attempt of the estate to pay back debt.<\/p>\n

Two of the sources stated interested buyers must submit their offers for the WLD token sale by 8 PM ET Wednesday; should their bids be accepted, those parties will be informed by Thursday. The two individuals stated the discount on the WLD tokens might vary from 40% to 75% off the current spot market price of WLD, which is trading at roughly $1.69.<\/p>\n

The FTX<\/strong> estate has 22.3 million WLD tokens<\/a> overall, suggesting from the two sources that there won’t be any more auctions for these tokens.<\/p>\n

Daily unlocking of the WLD tokens will occur through 2028. Specifically, 13,689 WLD tokens would unlock daily from July 25, 2026, to July 24, 2028; 20,539 WLD tokens will open daily from Dec. 1, 2024, to July 24, 2026, the two sources said.<\/p>\n

\"\"<\/p>\n

One of the three sources, together with a separate fourth source, voiced worries regarding the WLD token lockdown period length.<\/p>\n

Figure Markets co-founder and CEO Mike Cagney mentioned on X earlier this week that the FTX<\/strong> estate is auctioning its WLD token position, noting it may be discounted roughly 75%. The WLD tokens will unlock daily till 2028, he said. Like the company did for the FTX<\/strong> estate’s Solana auction earlier this year, Cagney also suggested Figure Markets might create a fund to take part in the WLD token sale.<\/p>\n

Previously selling SOL and Metaplex (MPLX) tokens, the FTX<\/strong> estate then progressed to WLD. Attracting interest from well-known investors, including Pantera Capital, the FTX<\/strong> estate closed the auction of its $7.5 billion hoard of discounted Solana tokens in May. Originally owned by the FTX<\/strong> estate, multiple crypto funds\u2014including Pantera Capital and ParaFi Capital\u2014bought 62.6 million MPLX tokens from Wave Digital Assets last month.<\/p>\n

Based on Arkham data, the FTX<\/strong> estate looks to have sold most of its tokens and currently boasts roughly $594 million in residual assets. But approximately $541 million of these assets\u2014part of which are FTX’s<\/strong> FTT token\u2014are highly illiquid and might not be traded as the estate pegged it to zero.<\/p>\n

 <\/p>\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0Telegram,\u00a0<\/strong><\/a>YouTube<\/strong><\/a>,\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0channels for\u00a0<\/em>the latest\u00a0news<\/a>\u00a0and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Three sources with firsthand knowledge of the situation say the FTX estate is poised to auction 22.3 million locked Worldcoin tokens, now worth at roughly $37.7 million, at a notable discount. The sale is a part of the continuous attempt of the estate to pay back debt. Two of the sources stated interested buyers must<\/p>\n","protected":false},"author":6,"featured_media":30334,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[4059,496],"class_list":["post-30332","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ftt","tag-ftx"],"yoast_head":"\nFTX Plans Worldcoin Token Sale at 75% Discount - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/ftx-plans-worldcoin-token-sale-at-75-discount\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FTX Plans Worldcoin Token Sale at 75% Discount - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Three sources with firsthand knowledge of the situation say the FTX estate is poised to auction 22.3 million locked Worldcoin tokens, now worth at roughly $37.7 million, at a notable discount. 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