Sam Altman’s World Foundation raised $65 million through the over-the-counter (OTC) sale of its WLD token, which reached a novel record low.
On Saturday post on Transactions were valued at an average of around $0.27 per token, suggesting that approximately 239 million Worldcoins (WLD) changed hands.
“This sale funds the project’s core operations and activities, research and development, bullet production, ecosystem development and more,” the World Foundation wrote on X.
Of the total amount of $25 million, tokens are subject to a six-month lock-up, and the remainder is immediately liquid.
Related: World launches AgentKit with Coinbase integration to enable human-verified AI agents
WLD reaches novel low
Following the announcement, WLD’s price briefly dropped to an all-time low of around $0.24 before recovering to $0.27, down approximately 97% from its March 2024 high near $11.82. The token is currently trading at $0.2725, up 0.28% over the last day, According to to CoinMarketCap data.
Additional supply pressure may be on the horizon. The major unlock of the community token is scheduled for July 23 and will cover approximately 52.5% of the total token supply of 10 billion, According to to DefiLlam.
Meanwhile, the novel sale also has a significant discount compared to the previous rounds. Last May, World raised $135 million at around $1.13 per token from backers including Andreessen Horowitz and Bain Capital Crypto.
Related: Tools for Humanity is developing the World application towards a super-app model
Thailand has raided an iris scanning website linked to the world
Last October, Thai authorities raided an iris scanning website linked to World. The National Securities and Exchange Commission, working with the Cybercrime Investigation Bureau, said the service may have violated digital asset laws by operating without a license, leading to arrests and an ongoing investigation.
The move added to a growing list of regulatory challenges for the world. Since its launch in 2023, the project has faced investigations and opposition in several countries, including Indonesia, Germany, Kenya and Brazil, over concerns ranging from licensing issues to the processing of sensitive biometric data.
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