One of Worldcoin’s largest corporate holders now sits on a $207M loss after losing its primary source of cash
Eightco Holdings reported a $207.6 million cumulative unrealized loss on its Worldcoin (WLD) holdings at June 30, with 283.45 million WLD carried at a $322.7 million cost basis and $115.1 million fair value. Since then, it said the WLD balance rose to 301.97 million tokens by Aug. 5, though the added cost basis was not disclosed. The bigger risk is operational: Forever 8, Eightco’s subsidiary, said its main customer worsened financially and improperly disposed of company-funded inventory, prompting it to halt new order fulfillment and purchases. This drove a $7.8 million credit-loss allowance and could materially reduce or eliminate revenue. Eightco still had $148.8 million of near-cash liquidity at quarter-end and said there was no going-concern doubt, but it also raised about $216 million through share issuance in the first half, doubling shares outstanding. The main issue is whether it can fund losses and token buying without further dilution or asset sales.
