FTX will auction Worldcoin project tokens at up to 75% discount
The coins are locked and valued at $38 million at the current exchange rate
03.10.2024 - 10:05
48
3 min
0
What’s new? The managers of the bankrupt crypto exchange FTX auctioned 22,3 million native tokens of Sam Altman’s Worldcoin (WLD) project at a 40-75% discount. At the current exchange rate, the coins are valued at about $38 million, with all of them being locked. The sale is being held to refund affected customers of the exchange.
What else is known? The auction is being held in an accelerated mode and participants will be notified as early as October 3 if their bids are accepted. The FTX team has decided to simultaneously sell off all WLD tokens stored in the exchange’s accounts.
According to the plan of the Worldcoin team, WLD tokens will be gradually removed from the blockchain until 2028 daily. From December 1, 2024, to July 24, 2026, 20 539 coins will be unlocked each day, and from July 25, 2026, to July 24, 2028, 13 689 coins will be unlocked each day.
Worldcoin team unlocks 2,38 billion native tokens over four years
The coins are intended for investors and employees of the developer company
Previously, Figure Markets co-founder and CEO Mike Cagney allowed the possibility that the firm could set up a fund to participate in the WLD auction. Figure Markets did the same when FTX sold off its Solana (SOL) blockchain native tokens in early 2024
However, a source later told The Block that the company backed out of the WLD auction due to the limited amount of coins in circulation and other concerns about the project.
In May, FTX completed a $7,5 billion discounted sale of SOL, which attracted interest from large investors including Pantera Capital. Last month, several crypto funds, including Pantera and ParaFi Capital, bought 62,6 million Metaplex (MPLX) tokens from Wave Digital Assets, which originally owned FTX.
Korea’s regulator fined Worldcoin $830 000 for data collection violations
Officials allowed the project to continue operating in the country provided the violations were corrected
According to blockchain analytics platform Arkham Intelligence, FTX has already sold most of its tokens and owns about $594 million in assets. Of that, about $541 million is represented by the FTX (FTT) exchange token, which is highly illiquid.
Useful material?
Telegram 
Twitter Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Cryptocurrency rates
-
Bitcoin
$98 046
BTC
+3.3%
-
Ethereum
$3 322.15
ETH
+7.48%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.36
XRP
+20.57%
-
Dogecoin
$0.38249
DOGE
-0%
-
Cardano
$0.853256
ADA
+6.76%
-
Bitcoin Cash
$488.63
BCH
+9.75%
-
Polkadot
$6.14
DOT
+7.32%
-
Stellar XLM
$0.28531
XLM
+14.71%
-
Litecoin
$90.47
LTC
+7.12%