FTX auctions 22.3 million Worldcoin tokens at a discount of up to 75%

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FTX auctions 22.3 million Worldcoin tokens at a discount of up to 75%
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The FTX estate is holding an auction of 22.3 million locked Worldcoin (WLD) tokens, currently valued at around $37.7 million. The sale comes at a significant discount, according to three sources close to the matter. The sale is part of the estate’s ongoing effort to recover funds for creditors.

According to two of these sources, interested potential buyers must submit their proposals by 8pm ET on Wednesday. Those whose offers are accepted will be notified on Thursday. Sources claim that the discount for WLD tokens could range from 40% to 75% compared to the current market price, which is around $1.69.

The FTX estate holds 22.3 million WLD tokens in total, which indicates that this will be the only auction of these assets, according to the same sources. The tokens are subject to a daily unlock schedule until 2028. Specifically, from December 1, 2024 until July 24, 2026, 20,539 WLD tokens will be unlocked per day. From July 25, 2026 until July 24, 2028, the daily unlock will be 13,689 tokens.

Despite the interest in the sale, some sources expressed concerns about the long lock-up period for the tokens. One of the founders of Figure Markets, Mike Cagney, mentioned on the social network X that the auction could include a discount of up to 75%. Cagney also indicated that his company could create a fund to participate in the acquisition, similar to what they did during FTX’s Solana (SOL) token auction earlier this year.

FTX Auctions Worldcoin Tokens

Previously, the FTX estate sold SOL and Metaplex (MPLX) tokens before moving on to WLD tokens. In May of this year, FTX completed the sale of its Solana token supply, attracting interest from renowned investors such as Pantera Capital. Last month, crypto funds including Pantera Capital and ParaFi Capital purchased 62.6 million MPLX tokens that belonged to the FTX estate.

Arkham data indicates that the FTX estate still has around US$594 million in assets, of which approximately US$541 million are in FTT tokens, which are considered highly illiquid and, therefore, should not be sold, as they have been marked to zero.

FTX auctions 22.3 million Worldcoin tokens at a discount of up to 75%

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FTX auctions 22.3 million Worldcoin tokens at a discount of up to 75%

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FTX auctions 22.3 million Worldcoin tokens at a discount of up to 75%

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FTX auctions 22.3 million Worldcoin tokens at a discount of up to 75%

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