FTX management is auctioning 22.3 million locked Worldcoin tokens, sources said. Bids for the WLD token sale must be submitted by 20:00 on Wednesday, sources said.
FTX management is auctioning locked WLDs at a discount!
FTX management will auction 2.3 million locked Worldcoin (WLD) tokens at a significant discount, according to three sources with direct knowledge of the matter. This amount is currently worth approximately $37.7 million. The sale is part of the administration’s ongoing efforts to recover funds for creditors.
Two of the sources say that interested buyers must submit their bids for the WLD sale by 8:00 pm on Wednesday. They also added that if their offers are accepted, FTX will inform the parties by Thursday. The discount on WLD tokens could range from 40% to 75% on the current spot market price of WLD, which is trading at around $1.69, the two sources said.
WLD token-unlocks will be phased in until 2028!
According to the two sources, FTX holds a total of 22.3 million WLD tokens. This suggests that there will be no further auctions for these tokens. Meanwhile, WLD tokens will be opened daily until 2028. Sources say that 20,539 WLD tokens will enter the market daily from December 1, 2024 to July 24, 2026, and 13,689 WLD tokens will enter the market daily from July 25, 2026 to July 24, 2028. A fourth source also expressed concern about the length of the lock periods for WLD.
Earlier this week, Figure Markets co-founder and CEO Mike Cagney stated on X that FTX management is auctioning its WLD token position, which could be at a discount of around 75%. He also noted that WLD tokens will enter the market daily until 2028. Cagney also said that Figure Markets may set up a fund to participate in the WLD token auction, similar to what the firm did for FTX management’s Solana (SOL) auction earlier this year.
FTX previously sold SOL and MPLX in a similar fashion
As you have been following from Kriptokoin.com, FTX management sold SOL and Metaplex (MPLX) tokens before WLD. In May, management completed a $7.5 billion sale of discounted Solana tokens. These sales attracted high-profile investors, including Pantera Capital. Last month, several crypto funds, including Pantera Capital and ParaFi Capital, bought 62.6 million MPLX from Wave Digital Assets, initially held by FTX.
According to Arkham data, FTX has sold most of its tokens. It now has about $594 million in remaining assets. However, a significant portion of those assets, about $541 million, is in the form of FTX’s FTT token. This is also highly illiquid. Also, the property has set its value at zero. So, there’s a good chance it won’t be sold.
Follow us on Twitter, Facebook and Instagram, and join our Telegram and YouTube channelto stay up to date with breaking news !
