WLD plunges 20% after Hayes sells token he vowed to hold

Worldcoin's WLD token plunged 20% after BitMEX co-founder Arthur Hayes disclosed he sold the entire position, reversing his previous day's statement that he would continue holding.

Hayes, who also serves as chief investment officer of family office Maelstrom, announced on Friday via social media that the firm had exited its entire Worldcoin stake. "Dumped $WLD. I'm out. See y'all at the clerb," he wrote, accompanied by a chart of SpaceX stock. The move came just one day after Hayes indicated Maelstrom would maintain its position. WLD dropped 10% in the past 24 hours, with a significant portion of the decline occurring after Hayes' tweet. The token's price action underscores the influence of prominent figures in crypto markets, where sentiment can shift rapidly. Traders can monitor live WLD price movements on NowPrice's crypto dashboard to track further volatility.

This episode highlights the impact of key opinion leaders on token valuations, especially in projects with concentrated holdings. Worldcoin, the eye-scanning identity project backed by Sam Altman, has faced scrutiny over its tokenomics and distribution. Hayes' reversal may raise questions about conviction levels among early investors. The broader crypto market has been sensitive to whale movements and insider signals, with exchange reserve drawdowns and on-chain metrics often providing additional context. Investors should watch for any follow-up statements from Hayes or Maelstrom, as well as on-chain data showing whether other large holders are adjusting positions. The next key event for Worldcoin could be any updates on its regulatory status or adoption milestones.