How FTX and 3AC Creditors Benefit from Worldcoin’s 200% Spike

• The Worldcoin price surge has prompted a surge in investment value for holders.
• Both FTX and Three Arrows Capital (3AC) were early supporters and investors of the project.
• Worldcoin has recorded an impressive double-digit price upswing in the past 24 hours.

Worldcoin , the native token associated with the founder of the artificial intelligence project OpenAI, Sam Altman, has had an impressive run over the past week. With a rocketing 40% price increase over the past 24 hours and a staggering 200% surge within a 7-day rally, Worldcoin has topped the charts of the best-performing altcoins in the markets, sitting at an all-time high trading price of $7.

This outstanding performance has ignited a bullish sentiment among investors, begging the question of the standing of the investment value of two of the project’s original backers.

Worldcoin Pump Surges 3AC’s Investments

As an early investor in the AI-based token, the now-defunct crypto hedge fund Three Arrows Capital (3AC) is among the top beneficiaries of the week-long Worldcoin surge.

While the exact valuation of Three Arrows Capital Investment is undisclosed, Blockchain analytics platform Arkham Intelligence has highlighted a wallet balance of 75 million WLD tokens associated with 3AC, received from the project’s creators in the previous year.

Currently valued at approximately $550 million at a current trading price, this reportedly marks the hedge fund’s current asset with the highest net value. Commenting on Worldcoin’s performance, 3AC co-founder Su Zhu expressed optimism that the firm’s extensive list of creditors will benefit from the surge in WLD’s price.

Zhu asserted that 3AC creditors, to which the firm owes a staggering $1.5 billion, “have one of the largest positions in WLD in the world”, hinting at a significant increase in the firm’s investment holdings of the token.

3AC is not the only investor poised for gains as collapsed crypto exchange FTX is also likely recording a surge in the value on its WLD holdings.

Is the Worldcoin Surge Driving FTX’s Holding to New Heights?

Prior to Worldcoin’s launch in July 2023, FTX founder Sam Bankman Fried charted an optimistic course for the token’s performance.

According to on-chain data , a wallet likely associated with FTX holds an approximate balance of 606.928 million Worldcoin tokens, valued at nearly $4.1 billion at current trading price. The wallet’s transaction history showcases numerous transfers and deposits of WLD from months ago, all of which came to a halt in November 2023.

FTX owes a staggering $8 billion to an extensive list of creditors, and is currently making strides towards facilitating the commencement of payouts.

At press time, Worldcoin (WLD) is trading at $7.3, down 5% from its all-time high of $7.7 today.

Find out more about WLD’s impressive performance over the past 24 hours and in the last 7 days:
This Is Why Worldcoin Is up 200% in 7 Days

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