WLD plunges 20% as Hayes dumps token a day after saying he would keep holding it
Summary
Arthur Hayes said Maelstrom sold its entire Worldcoin position, reversing a statement from the previous day that it would keep holding WLD. The token fell about 10% over 24 hours, with part of the decline following his post. The decision came after Maelstrom had already exited Zcash, citing a flaw in Zcash’s Orchard privacy pool. Worldcoin had been used as a liquid crypto proxy for exposure to AI-related sentiment and, indirectly, to SpaceX optimism, since SpaceX has been pitched as an AI/connectivity play and is not yet publicly trading. But pre-listing SpaceX quotes have dropped more than 50% recently, reducing that trade’s appeal. Worldcoin had rallied sharply in the prior month, but much of those gains have since faded.
