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Worldcoin Airdrop is live, announced the company.
The token price did not sway, but the selloff fears mount on the back of the troubling investor list.
Investors already doubt WLD.
YEREVAN (CoinChapter.com) – The new cryptocurrency and ID project, Worldcoin, which has made a lot of noise in the digital asset sector this week, announced its WLD token Airdrop. The latter also features a $100,000 prize pool.
Despite the Worldcoin Airdrop announcement, WLD price did not sway and bobbed around $2.23 in the European session on July 27, after heightened volatility on July 25, the Worldcoin launch date.
However, once the Worldcoin Airdrop is live, early investors could unload their stash, dropping the price.
Worldcoin investors might bolt
According to investment tracker DealRoom, the project’s angel investors include the infamous Sam Bankman-Fried, who evaporated over $45 billion of investor money in the FTX fiasco. The list continues with the now-bankrupt Three Arrows Capital and deeply troubled crypto giant Digital Currency Group (DCG).
With investors’ credibility now shattered, their presence on the creditors’ list raised much speculation.
With the looks of it, their investment has already 20x. There is no chance that they won’t dump all their tokens once it is unlocked because they are in bankruptcy. I wouldn’t even advice to short for now, as there is a lot of volatility, and you will lose money. Just stay away and stay.
said a Reddit user.
The speculations rose to a tin-foil level, suggesting that OpenAI co-founder and the man behind Worldcoin, Sam Altman, is Sam Bankman-Fried’s alternate account.
While the suggestion is obviously a joke, public opinion on the project continues to tank. The bank run expectations join the slew of accusations Worldcoin faced in the previous two days.
WLD is in enough trouble already
The latter includes a dystopian view of the Worldcoin Orb, which is a device to scan the human iris for identity confirmation. For example, Ethereum founder Vitalik Buterin released a blog post highlighting four major concerns regarding the project’s user authentication system.
Adding insult to injury, the project managed to upset regulators in the UK. According to a recent Reuters report, the Information Commissioner’s Office (ICO) in the United Kingdom has acknowledged the launch of Worldcoin and stated that they would closely examine the project while initiating further inquiries to ensure compliance with data laws.
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