Worldcoin

The FTX estate is preparing to auction off 22.4 million locked Worldcoin (WLD) tokens worth approximately $33.7 million in its effort to recover funds for creditors affected by the company’s bankruptcy. 
The action is expected to attract a lot of attention as the token will be sold at a discount, possibly between 40% and 75% off the current market price of $1.69 per token. 
Interesting bidders will submit their offers by 8 PM ET on Wednesday, and notifications about accepted bids will be communicated on Thursday. This auction offers an opportunity for buyers who want to purchase the entire 22.3 million tokens in one go. 
However, the Worldcoin tokens are locked, meaning buyers will not be able to sell or use the token right away. They will be unlocked gradually over the next few years.&nbsp; 
From Dec. 1, 2024, to July 24, 2026, 20,539 tokens will be unlocked daily, and 13,689 tokens will be unlocked daily from July 25, 2026, to July 24, 2028. But this long locked-up period might be a deal breaker for some bidders because most investors are often cautious of such assets. 
FTX estate has a history of selling assets at steep discounts following its bankruptcy. The company folded up in 2022 after an $8 billion deficit was revealed in the company’s account 
The CEO, Sam Bankman-Fried was <a href="https://www.cryptotimes.io/2024/03/28/sam-bankman-fried-sentenced-to-25-years-for-8-billion-fraud/" target="_blank" data-type="link" data-id="https://www.cryptotimes.io/2024/03/28/sam-bankman-fried-sentenced-to-25-years-for-8-billion-fraud/" rel="noreferrer noopener">sentenced to 25 years in prison</a> on March 28 for fraud and misuse of customers’ funds. Since then, the company has been making efforts to recover creditors’ funds. 
Earlier this year, the estate auctioned off <a href="https://www.cryptotimes.io/2024/04/06/ftx-estate-executes-1-9-billion-sol-sale-in-debt-clearance-effort/" target="_blank" rel="noreferrer noopener">$1.9 billion worth of SOL</a> for $64 per token, to 68% discount lower than the market price. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/09/25/caroline-ellison-sentenced-for-two-years-in-ftx-fraud/" target="_blank" rel="noreferrer noopener">Caroline Ellison Sentenced for Two Years in FTX Fraud</a> 
</blockquote>

FTX Estate to Auction 22.3m Locked Worldcoin Tokens at a Discount

The Crypto Times

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