A cryptocurrency venture founded by Sam Altman, Worldcoin’s WLD tokens surged over 200% in a week, benefiting creditors of bankrupt fund Three Arrows Capital (3AC) and crypto exchange FTX.
Su Zhu, 3AC’s founder, noted the boost for creditors, despite facing criticism for the 2021 Worldcoin investment. A $165 million token unlock scheduled until Feb. 26 could pose challenges for WLD prices.
3AC invested $25 million in Worldcoin’s developer, Tools For Humanity, valuing it at $1 billion. Though 3AC’s exact WLD holdings remain undisclosed, it owes creditors $1.5 billion. FTX estate, another creditor, might benefit, as its CEO Sam Bankman-Fried invested in Worldcoin.
WLD’s surge followed OpenAI’s Sora launch, linked to Worldcoin’s parent company and shared founder Sam Altman. This surge, including a 50% increase in 24 hours, pushed WLD to over $7, with a $75 billion valuation. Worldcoin’s wallet app reached 1 million daily users, reflecting community growth.
Also Read: Sam’s Worldcoin Wallet App Achieves 1 Million Users
Worldcoin’s dramatic rise amid unlocking challenges and creditor benefits reflects its volatile journey in the crypto market, tethered to investor sentiments and strategic moves by associated entities.
