World Foundation $52.5M Raise Triggers 9% WLD Token Price Crash

The World Foundation, which governs the World network (formerly Worldcoin), has raised $52.5 million through a token sale. However, this deal triggered an unexpected 9% crash in the price of WLD tokens.

The non-profit organization sold 217.4M WLD tokens to strategic investors including Pantera Capital, Selini Capital, Bain Capital Crypto, and Eightco Holdings at a price of $0.2415 per WLD. This sale price represented a 30% discount from the current market price.

The World Foundation has insisted that the deal was made at the market price, but this move still caused concern among investors.

Austin Barack, Founder of crypto VC firm Relayer Capital, believes that the inflation schedule and recent raise would ease selling pressure on WLD tokens. However, the token dumped by 9% immediately after the update amid broader market correction on Friday.