FTX Estate to Auction 22 Million Worldcoin Tokens at a Major Discount
The FTX estate plans to auction around 22 million Worldcoin (WLD) tokens, estimated to be worth about $38 million, on October 3.
Bidders must place a minimum bid of $2.5 million by 8 PM, and the tokens could sell at discounts of up to 75%.
These tokens are locked under a four-year schedule, with daily releases beginning December 1, 2024, starting at 20,000 tokens per day and tapering to 14,000 daily by July 2026.
The FTX estate faced criticism in May 2024 for selling Solana tokens at significant discounts, leading creditors like Sunil Kavuri to claim that the sales shortchanged investors.
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Tensions escalated after a revised bankruptcy plan was revealed, indicating that creditors might recover only 10% to 25% of their holdings.
Additionally, on September 29, speculation about an FTX payout caused a surge in the price of its native token, FTT, which jumped over 70% to nearly $2.99. However, the anticipated court hearing for reimbursements is scheduled for October 7.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
