FTX Bankruptcy Estate Transfers $351,000 in WLD to Binance
CryptoNewsTerminal Staff08 Aug, 2024
FTX Bankruptcy Estate Transfers $351,000 in WLD to Binance
FTX Bankruptcy Estate Transfers $351,000 Worth of WLD to Binance The FTX bankruptcy estate recently transferred 205,000 WLD, worth approximately $351,000, to a Binance address. This marks the first known instance of the bankruptcy estate depositing WLD into a centralized exchange. World Coin (WLD) is the second-largest holding of bankrupt FTX affiliate Alameda Research. Alameda currently holds $46.25 million worth of WLD. The transfer of WLD to Binance is part of the bankruptcy estate's ongoing efforts to recover and liquidate assets. The estate has previously sold millions of dollars worth of other cryptocurrencies, including Bitcoin, Ethereum, and Solana. The transfer of WLD to Binance is a significant development, as it indicates that the bankruptcy estate is beginning to liquidate its holdings of this cryptocurrency. It is unclear at this time whether the estate will continue to sell WLD or if it will hold onto the remaining tokens. The price of WLD has fluctuated significantly in recent weeks, following the collapse of FTX and Alameda Research. The token is currently trading at around $1.70, which is down from its all-time high of over $20.
