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The management of bankrupt cryptocurrency firm FTX is preparing to sell 22.3 million locked Worldcoin (WLD) coins, worth approximately $37.7 million, at a significant discount as part of its ongoing efforts to recover funds for creditors.
<h2 id="worldcoin-wld-to-be-sold-by-ftx-expects-40-to-75-percent-discount">Worldcoin (WLD) to be Sold by FTX Expects 40 to 75 Percent Discount</h2>
Sources familiar with the matter explained that the discount could range from 40% to 75% on the current market price of WLD, which is trading around $1.69.
Bidders must submit bids for the auction by 8 a.m. Wednesday. Successful bidders will be notified by Thursday. With 22.3 million tokens up for sale, the auction is the last opportunity to purchase WLD tokens from the FTX property, according to two sources with knowledge of the sale.
The locked WLD tokens will be gradually unlocked every day until 2028. Starting from December 1, 2024, 20,539 WLD tokens will be unlocked daily until July 2026, and then 13,689 WLD tokens will be released daily from July 2026 to July 2028. According to sources, some potential buyers have expressed concerns about the extended lockup period.
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Figure Markets co-founder and CEO Mike Cagney confirmed via social media earlier this week that the FTX estate was auctioning its WLD token position. Cagney hinted that the discount could reach as high as 75% and indicated that Figure Markets may set up a fund to participate, similar to the FTX estate’s participation in the Solana (SOL) token auction earlier this year.
The WLD token auction follows management’s previous token sales of Solana and Metaplex (MPLX). In May, FTX management completed a $7.5 billion Solana token sale that attracted high-profile investors including Pantera Capital. Last month, several funds including Pantera Capital and ParaFi Capital purchased 62.6 million MPLX tokens from Wave Digital Assets, which was initially held by FTX.
Despite progress in liquidating assets, FTX still has approximately $594 million in assets.
Interestingly, the WLD price was around $1.90 yesterday, while it is trading at $1.70 today.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/bankrupt-ftx-to-sell-all-of-this-altcoin-at-a-huge-discount/" rel="noopener noreferrer nofollow">Bankrupt FTX to Sell All of This Altcoin at a Huge Discount</a>

Bankrupt FTX to Sell All of This Altcoin at a Huge Discount

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