Alameda Research’s Investment Surpasses $50M as Worldcoin Price Achieves New All-Time High
The recent surge of Worldcoin’s WLD token, increasing by an impressive 200%, has captured the attention of the market. This surge is particularly noteworthy for creditors of major firms like Three Arrows Capital (3AC) and FTX, as mentioned by Su Zhu in a recent X post.
However, there is a significant concern on the horizon: the unlocking of $165 million worth of tokens, scheduled to take place by February 26th, according to Token Unlocks data.
Worldcoin’s ambitious project, which involves using eye scans for digital IDs and tokens, has generated a lot of interest. Participants receive tokens over a two-year period, with an immediate access of 10% through the Orb’s wallet app.
Adding to the speculation, Three Arrows Capital’s involvement in Worldcoin includes a substantial $25 million investment in the project’s developer, Tools For Humanity, which has recently been valued at $1 billion. Similarly, FTX’s founder, Sam Bankman-Fried, became an early investor through this connection.
While creditors of 3AC stand to benefit, the FTX estate also has the potential for gains, despite allegations of fraud against Bankman-Fried following FTX’s bankruptcy. SpotOnChain data reveals a significant influx of $185 million in WLD tokens to Bankman-Fried’s accounts in August 2023, raising questions about the token’s role in the ongoing legal issues.
The recent 50% increase in WLD’s value coincides with the launch of Sora, a text-to-video generator by OpenAI. With a common founder with Worldcoin’s parent company, Sam Altman, OpenAI’s success is intertwined with the surge of WLD, leading some traders to view it as a speculative bet on OpenAI’s potential triumph.
Despite the controversies surrounding Worldcoin’s unconventional approach, the fact that WLD’s prices are approaching the $8 mark aligns with the optimistic outlook shared by analysts and 3AC co-founder Su Zhu. The current valuation of over $7, reaching an impressive $75 billion, corresponds with the planned release of 10 billion WLD tokens over 15 years, with initial allocations subject to a one-year lock-up period.
Analyst Ali Martinez predicts a breakout for Worldcoin, projecting a potential rise to $15, and possibly even $26, based on factors such as whale accumulation and the growth of the project’s wallet, World App. These factors contribute to the upward momentum and solidify Worldcoin’s position in the volatile cryptocurrency market.