Worldcoin (WLD) Price Continuously Breaking ATH

The rapid price growth of the WLD token (over 200%) in the past week appears to be benefiting some key investor groups, particularly creditors of the two bankrupt platforms Three Arrows Capital (3AC) and FTX.

This information was shared by the founder of 3AC, Su Zhu, on Twitter on the evening of February 19th. He asserted:

I won’t benefit from the price increase of WLD, but I’m excited for the creditors of 3AC as they own one of the best positions in the world.

Su Zhu also recalled past criticisms regarding his investment in Worldcoin in 2021, to the extent of refusing to share information supporting the project.

Worldcoin has been a controversial project due to its idea of retina scanning for user identification in exchange for token airdrops.

In the past, 3AC participated in the $25 million fundraising round of Tools For Humanity, the developer of Worldcoin. At that time, the company was valued at around $1 billion. Three Arrows Capital is also burdened with over $1.5 billion in debt.

According to findings by 0xScope, the liquidation address Teneo: 3AC (0xC7… 3741) owns 75 million WLD tokens, valued at approximately $550 million, making it the highest valued asset. These tokens were transferred by Worldcoin in August 2023 and have seen no interaction since then.

Another group of creditors that may benefit from Worldcoin is FTX. In the Series A round in October 2021, Worldcoin also received investment from Sam Bankman-Fried (SBF), the bankrupt CEO of the FTX exchange, who is currently facing 7 charges and a life sentence. Data from SpotOnChain shows that wallets associated with SBF’s company received $185 million worth of WLD tokens last August.

WLD/USDT Chart

The price of Worldcoin (WLD) nearly reached the $8 mark and temporarily set a new peak at $7.996. This positive development was triggered by the launch of OpenAI’s new Sora text-to-video product.

The WLD/USDT chart on TradingView at 3:25 AM on February 20, 2024.

However, WLD may struggle to maintain its price momentum, as there is an upcoming token unlock worth $165 million scheduled for this week, ending on February 26th.