Worldcoin Drops 20% After Maelstrom Sells Entire Stake

Worldcoin fell 20% after Maelstrom sold its entire stake.

On June 6, the Worldcoin (WLD) token fell by approximately 20% following the announcement by BitMEX co-founder and Maelstrom CIO Arthur Hayes that the fund had sold its entire position. The day before, Hayes had indicated he would continue to hold the asset, but he attributed the change in stance to the decline in SpaceX’s preliminary quotes, viewing WLD as a liquid proxy for AI trading.