Worldcoin

<p>In recent developments, Worldcoin’s WLD token has experienced an unprecedented <a href="https://token.unlocks.app/worldcoin-wld" rel="noopener noreferrer nofollow" target="_blank">surge</a> of over 200% within the past week, presenting apparent benefits for a significant group of investors, particularly creditors associated with the bankrupt fund Three Arrows Capital (3AC).</p>
<h2 class="wp-block-heading" id="3ac-founder-details-the-benefits-of-worldcoin-to-its-creditors">3AC founder details the benefits of Worldcoin to its creditors</h2>
<p>Su Zhu, the founder of 3AC, highlighted this trend, indicating that while he won’t personally profit from the surge in WLD prices, he is pleased that 3AC creditors hold one of the largest positions in WLD globally. Despite facing criticism for his involvement in the Worldcoin investment back in 2021, Zhu acknowledges the potential gains for creditors.</p>
<p>Worldcoin, a project with the controversial aim of scanning individuals’ eyes in exchange for a digital ID and tokens, has garnered attention for its unique distribution model. Each person’s allocation of tokens depends on their early involvement in the project’s rollout and is distributed over two years, with 10% available immediately through a wallet app generated by the Orb.</p>
<p>Notably, 3AC participated in a $25 million funding round for Worldcoin’s developer, Tools For Humanity, valuing the firm at $1 billion. However, the exact holdings of WLD by 3AC remain undisclosed, while the founders of the firm owe creditors over $1.5 billion due to investment losses, as per court filings.</p>
<p>Another creditor group potentially poised to benefit is the FTX estate. In October 2021, Worldcoin secured investment from Sam Bankman-Fried (SBF), the founder and CEO of the crypto exchange FTX, which subsequently faced bankruptcy allegations. Data indicates that wallets associated with Bankman-Fried’s company received WLD tokens worth over $185 million in August 2023.</p>
<h2 class="wp-block-heading" id="potential-stakeholders-and-implications">Potential stakeholders and implications</h2>
<p>Furthermore, blockchain transactional history reveals transfers of WLD tokens ranging from $35 million to $170 million to various other addresses from the same Worldcoin address linked to Bankman-Fried’s company. The recent surge in WLD prices coincides with the launch of Sora, a text-to-video generator developed by AI developer OpenAI, which shares its founder, Sam Altman, with Worldcoin’s parent company.</p>
<p>Crypto traders are speculated to view WLD as a bet on the success of OpenAI, contributing to the token’s upward trajectory. As of Monday, WLD prices surged nearly 50% within 24 hours, reaching all-time highs exceeding $7, thereby attributing Worldcoin a fully diluted valuation of a staggering $75 billion.</p>
<p>It’s worth noting that during the launch and for the subsequent 15 years, a total of 10 billion WLD tokens will be released into the market. Tokens allocated to investors and the development team were subject to a one-year lock-up period. Overall, the surge in WLD prices, driven by various factors including investor sentiment, partnerships, and technological advancements, underscores the dynamic nature of the cryptocurrency market.</p>
<p>While some stakeholders stand to benefit, such as creditors of firms like 3AC and potentially the <a href="https://www.cryptopolitan.com/ftx-and-alameda-sued-of-tether-profit-scheme/" data-type="post" data-id="468140" rel="noopener noreferrer nofollow">FTX</a> estate, others closely monitor developments amid ongoing controversies and regulatory scrutiny surrounding projects like Worldcoin. As the cryptocurrency landscape continues to evolve, the implications of such market movements remain a topic of keen interest and speculation among investors and industry observers alike.</p>

Worldcoin surge to benefit 3AC and FTX creditors

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