Crypto:
31830
Bitcoin:
$66.445
% 1.01
BTC Dominance:
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Market Cap:
$2.33 T
% 0.53
Fear & Greed:
70 / 100
Bitcoin:
$ 66.445
BTC Dominance:
% 57.3
Market Cap:
$2.33 T

FTX Plans Worldcoin Token Sale at 75% Discount

Ftx Ftt

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 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.

The FTX estate has 22.3 million WLD tokens overall, suggesting from the two sources that there won’t be any more auctions for these tokens.

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.

Ftx Bankruptcy 2

One of the three sources, together with a separate fourth source, voiced worries regarding the WLD token lockdown period length.

Figure Markets co-founder and CEO Mike Cagney mentioned on X earlier this week that the FTX 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 estate’s Solana auction earlier this year, Cagney also suggested Figure Markets might create a fund to take part in the WLD token sale.

READ:  Collapse of the FTX Exchange: 1 Year Ago Today

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

Based on Arkham data, the FTX 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—part of which are FTX’s FTT token—are highly illiquid and might not be traded as the estate pegged it to zero.

 

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