Sam Altman’s World Foundation has successfully executed a $65 million sale of its WLD token as it reaches new all-time lows.
In a Saturday post on X, the foundation mentioned that its token issuance segment, World Assets, completed the sale with four various entities throughout the last week. The first part of the transaction was concluded on March 20, with an average token price set at about $0.27, leading to approximately 239 million Worldcoins exchanging hands.
“This sale finances our essential operations, including research and development, orb manufacturing, ecosystem growth, and more,” the World Foundation declared.
Out of the total amount, $25 million has a six-month lockup policy, while the rest was made available immediately.
WLD Experiences New Lows
Following this announcement, WLD momentarily dipped to an unprecedented low of roughly $0.24 before bouncing back up to $0.27, representing a decrease of 97% from its peak price of around $11.82 witnessed in March 2024. Currently, the token is trading at $0.2725, reflecting a 0.28% rise over the last day.
There may be additional selling pressure soon, with a significant community token unlock anticipated on July 23, which covers about 52.5% of the overall token supply. However, not all newly unlocked tokens will be released into circulation right away.
In more recent news, this sale reportedly took place at a considerable discount compared to previous funding rounds. In May of last year, the World Foundation raised $135 million at approximately $1.13 per token from investors including Andreessen Horowitz and Bain Capital Crypto.
Regulatory Troubles in Thailand
In October 2022, Thai authorities raided an iris-scanning facility connected to World. The Securities and Exchange Commission of Thailand, in collaboration with the Cyber Crime Investigation Bureau, suggested the service may have violated digital asset laws by operating without an appropriate license. This incident added to the ongoing regulatory challenges faced by World since its launch in 2023, which have also occurred in other countries such as Indonesia, Germany, Kenya, and Brazil over various compliance issues.
