WorldCoin WDC

FTX Token

The post <a href="https://cryptosnewss.com/ftxs-shocking-move-38-million-in-worldcoin-tokens-up-for-grabs-at-unbelievable-discount/" rel="noopener noreferrer nofollow">FTX’s Shocking Move: $38 Million in Worldcoin Tokens Up for Grabs at Unbelievable Discount</a> appeared first on <a href="https://cryptosnewss.com/" rel="noopener noreferrer nofollow">Cryptos Newss</a>.The <a href="https://cryptosnewss.com/crypto-giant-ftxs-shocking-collapse-8-billion-vanishes-overnight/" rel="noopener noreferrer nofollow">FTX </a>bankruptcy estate is currently conducting an auction of its remaining Worldcoin (WLD) tokens, which is set to conclude on October 3, 2024. This auction involves approximately 22 million WLD tokens, valued at roughly $38 million.Auction Details<ul><li>Minimum Bid: The minimum bid required to participate in the auction is $2.5 million.</li><li>Discount: The tokens could potentially sell at a steep discount of up to 75%.</li><li>Unlocking Period: The tokens are subject to a four-year unlocking period ending in 2028. Starting December 1, 2024, approximately 20,000 WLD tokens will unlock daily. This rate will slow to about 14,000 WLD tokens daily from July 2026 until the unlocking period concludes in 2028.</li></ul>Background and ContextThe auction is part of the FTX bankruptcy estate’s efforts to liquidate assets and repay creditors following the exchange’s collapse in November 2022. The estate has previously sold other digital assets, including Solana (SOL) tokens, at significant discounts. These sales have drawn criticism from creditors who argue that the assets are sold at prices far below their market value.Market ImpactRumors and announcements related to the FTX bankruptcy proceedings have notably impacted the market. For instance, recent rumors about imminent payouts to creditors caused the price of FTX’s native asset, FTT, to surge by over 70%.Criticism and ControversyThe handling of the asset sales by the FTX bankruptcy estate has been controversial. Critics, including FTX creditor Sunil Kavuri, have accused the estate of short-changing investors by selling assets at steep discounts. Kavuri highlighted that some tokens sold by the estate at 11 cents are now trading at two dollars.ConclusionThe ongoing auction of Worldcoin tokens is a significant event in the FTX bankruptcy saga, reflecting the broader challenges and controversies surrounding the liquidation of the exchange’s assets. The outcome of this auction will be closely watched by creditors and the broader cryptocurrency community.The post <a href="https://cryptosnewss.com/ftxs-shocking-move-38-million-in-worldcoin-tokens-up-for-grabs-at-unbelievable-discount/" rel="noopener noreferrer nofollow">FTX’s Shocking Move: $38 Million in Worldcoin Tokens Up for Grabs at Unbelievable Discount</a> appeared first on Cryptos Newss.

FTX’s Shocking Move: $38 Million in Worldcoin Tokens Up for Grabs at Unbelievable Discount

Cryptos Newss

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