World Foundation Sells 217 Million WLD Tokens to Pantera, Others at 36% Discount
Summary
- The World Foundation said it sold about 217 million WLD to institutions including Pantera Capital for $52.5 million.
- The over-the-counter WLD deal was priced at about $0.24 per token, representing about a 36% discount to the market price.
- All of the WLD sold in the transaction is subject to a one-year lock-up, after which the tokens can be circulated or cashed out.
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The World Foundation sold $52.5 million worth of its WLD token to institutional investors including Pantera Capital. The over-the-counter deal was struck at a price more than 30% below the current market rate.
On-chain analytics platform EmberCN said on July 24 that the World Foundation sold about 217 million WLD to multiple institutions, including Pantera Capital. The foundation did not disclose the exact sale price or size in advance. The transaction came to light after about 217.4 million WLD was transferred from foundation wallets to several institutional addresses at the same time.
Based on the total number of tokens transferred and the amount raised, the implied sale price was about $0.24 per WLD. That was roughly 36% below WLD's current market price.
The tokens sold to institutions will not enter the crypto market immediately. All of the WLD sold in the deal is subject to a one-year lock-up. Investors including Pantera Capital can circulate or cash out the tokens only after that period expires.
Doohyun Hwang
cow5361@bloomingbit.ioKEEP CALM AND HODL🍀