Worldcoin (WLD) emerged as the biggest gainer over the past 24 hours in the tally of the top 100 cryptocurrencies. WLD price has managed to gain more than 200% in the last 24 hours. The founder of 3AC revealed that who would be benefiting from the ongoing surge of Worldcoin. This surge came in when Bitcoin, the king of crypto, is making its way towards its All Time High (ATH) of around $69,000 recorded in 2021.
Worldcoin gives hope to 3AC creditors
Su Zhu, the founder of 3AC in a post wrote that he got hated on a lot for this worldcoin investment in 2021. He added that some of the hit pieces written on it were so bad that most of the seed funders refused to tweet to support it.
Most importantly, Su Zhu informed that he won’t be benefiting from Worldcoin’s huge gains. Meanwhile, he suggested that 3AC creditors hold one of the largest positions in WLD tokens right now.
He even shared his X (formerly Twitter) post from October 2021. Zhu wrote that Worldcoin is one of the most ambitious and uplifting projects I’ve seen so far in crypto.
However, WLD might see potential headwinds as a token unlock worth $165 million is set to start this week. It will be concluding on February 26.
Worldcoin price has gained more than 223% in the last 90 days. However, WLD recorded a surge of 37% in the last 24 hours. WLD is trading at an average price of $7.40, at the press time. Its 24 hour trading volume is up by 160% to stand at $1.32 billion.
The global crypto market is also depicting the same sentiments by jumping over 2% in the last 24 hours. The total crypto market cap now stands at $1.98 trillion.
What’s up with Su Zhu and founders?
According to reports, a British Virgin Islands court froze approx $1 billion in assets linked to Three Arrow Capital’s founders. This includes Su Zhu, Kyle Davies, and Davies’ wife Kelly Chen. The crypto hedge fund filed insolvency in June 2022 which played a role in the “crypto winter” of that year.
The liquidator, Teneo, overseeing the bankruptcy process, in a statement presented that stated 3AC owes around $3.3 billion to creditors. However, the court order aims to prevent the founders from moving or selling assets. It still holds them responsible for the fund’s financial decline.
It should be noted that a Singapore court, where 3AC was founded, had also ordered the freezing of domestic assets for Zhu and Davies.
