- Alameda Research has been depositing $265,000 worth of WLD tokens weekly to Binance for the past two months, selling 1.56 million WLD valued at $2.51 million total.
- The company still holds approximately 23.44 million WLD worth about $43 million, which could take over three years to fully liquidate at the current selling pace.
- The steady sell-off is part of Alameda's effort to gather liquidity for creditor repayments following FTX's collapse and the court-approved $16.5 billion customer repayment plan.
- Despite Alameda's consistent selling pressure, WLD token price has risen 31% over the past 30 days to $1.86, though investors remain cautious about the large remaining reserves.
Date: Wed, Oct 09, 2024, 08:15 AM GMT
Alameda Research, once a powerful name in the crypto world, has been making headlines again – this time for regularly selling off large amounts of Worldcoin (WLD) on Binance. According to Spotonchain reports, Alameda has been depositing $265,000 worth of WLD (around 143,770 tokens) weekly for the past two months.
Since August 9, Alameda has sold a total of 1.56 million WLD, valued at around $2.51 million, in 10 separate batches on Binance. With an average selling price of $1.605 per token, the company still holds approximately 23.44 million WLD, worth about $43 million. If Alameda continues at this pace, it could take over three years to fully liquidate its remaining holdings.
The steady sell-off is believed to be part of Alameda’s effort to gather liquidity to repay creditors after FTX, the cryptocurrency exchange co-founded by Sam Bankman-Fried, collapsed last year. The court recently approved FTX’s plan to repay $16.5 billion to its customers, further intensifying Alameda’s need to offload assets.
Despite Alameda’s consistent WLD sell-off, the token’s price has risen by 31% over the past 30 days, currently trading at $1.86.
However, investors remain cautious, keeping a close watch on the company’s substantial remaining WLD reserves.
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