Key facts
- Worldcoin (WLD) price fell by 20%.
- BitMEX co-founder Arthur Hayes sold his Worldcoin holdings.
- Hayes had previously stated he would continue holding the token.
- The price drop occurred a day after Hayes' previous statement.
- The decline in WLD coincided with a broader market downturn.
Worldcoin (WLD) saw its price plummet by 20% following a decision by its co-founder and Maelstrom CIO, Arthur Hayes, to sell his holdings. This significant sell-off occurred just one day after Hayes had publicly stated his intention to continue holding the token. The decline in WLD's value was also accompanied by a broader market downturn, with the token having already slid approximately 10% prior to Hayes' sale. Onchain investigator ZachXBT accused Hayes of turning his audience into "exit liquidity," stating that Hayes promoted Worldcoin and then sold it shortly afterward, capping a roughly 15-day period where he exited four publicly hyped positions. Hayes reportedly cited a falling chart of SpaceX stock as a reason for his decision, despite SpaceX not yet being a publicly traded entity.