Creditors Rejoice As Worldcoin (WLD) Skyrockets 188%, Providing Vital Relief To 3AC And FTX Creditors are celebrating as the value of Worldcoin (WLD) surges by 188%, bringing much-needed relief to 3AC and FTX.
During a tough year for creditors of bankrupt investment firms 3AC and Alameda Research, a recent increase in Worldcoin has brought some relief. The cryptocurrency, linked to a project co-founded by NLP Cloud CEO Sam Altman, has surged by 188% in the last two weeks due to the launch of the Sora text-to-video application. This has propelled the token into the top 100 cryptocurrencies on the market. Although the token’s growth has slowed in the last few hours, it has greatly benefited its two main holders, Three Arrows and Alameda Research, who experienced challenges during the crypto market downturn in 2022. A Bloomberg report states that Three Arrows and Alameda Research have experienced significant growth in their portfolios due to the increase in Worldcoin’s value. Teneo, the liquidator for Three Arrows, now has approximately 75 million WLD tokens valued at around $520 million, while Alameda’s addresses hold 25 million tokens worth $173 million. The initial photograph of SBF in custody has been revealed. Thomas Braziel, who is one of the co-founders and managing partners of 117 Partners, emphasized how Worldcoin’s recent surge has affected the creditors. Braziel, whose company represents the claims for Three Arrows and Alameda, stated, “The surge in the token’s value is a significant win for the creditors of both bankrupt companies, particularly for 3AC.”. Braziel went on to clarify that although Alameda’s restructured agreements would mainly allocate the funds to customers and other creditors, the sum does offer some alleviation. The recent rally in Bitcoin has been a major boost for Three Arrows, which previously suffered significant losses in its BTC holdings, helping to rejuvenate its venture investment portfolio. Worldcoin, which was unveiled in July, offers a unique method for verifying identities.