FTX is preparing to sell 22.3 million locked WLD tokens, worth approximately $37.7 million, at a discount to raise funds to repay debt. The sale will be conducted over-the-counter (OTC) rather than directly on an exchange, as the tokens are still locked.
Interested parties should submit an auction application by 07:00 (UTC) tomorrow. If the application is accepted, they will receive the results shortly thereafter. The discount for WLD tokens can range from 40% to 75% of the current market price, which is approximately $1.69/token.
FTX has decided to sell all remaining WLD tokens in this round, and these tokens will be unlocked gradually from December 1, 2024 to July 2028. Previously, FTX sold tokens like SOL and MPLX, and now it's WLD's turn to hit the shelves at a deep discount.
