FTX estate set to sell $38M worth of locked Worldcoin tokens at discount
FTX's estate is set to auction off 22.3 million locked Worldcoin tokens, currently valued at around $37.7 million, at a significant discount.
The sale is part of the estate's ongoing effort to recover funds for creditors.
Interested buyers must submit their bids for the WLD token sale by 8 p.m. ET on Wednesday, with those parties being notified on Thursday if their bids are accepted.
The discount on WLD tokens could range from 40% to 75% off WLD's current spot market price, which is trading at around $1.69, two people familiar with the negotiations said.
FTX's estate holds a total of 22.3 million WLD tokens, indicating there will be no further auctions for these tokens.
WLD tokens will be unlocked daily until 2028. Specifically, 20,539 WLD tokens will be unlocked daily from December 1, 2024, to July 24, 2026, and 13,689 WLD tokens will be unlocked daily from July 25, 2026, to July 24, 2028, the two sources added.
One of the three sources, along with a separate fourth source, expressed concerns about the length of the lock-up periods for WLD tokens.
