The post 3AC’s Investment in Worldcoin Seems to Pay Off for Creditors appeared on BitcoinEthereumNews.com.

An early investment in Worldcoin by the defunct crypto hedge fund Three Arrows Capital, otherwise known as 3AC, may prove profitable for creditors as the former’s token WLD recently reached a new all-time high (ATH), soaring nearly 200% in the last seven days. 3AC’s crypto portfolio currently holds 75 million WLD coins, making the company one of the largest investors in it. Worldcoin Investment Appreciates Following WLD Price Surge Three Arrows Capital was among the investors who participated in a funding round in 2021 by Tools For Humanity, the developer behind the iris-scanning project Worldcoin, co-founded by OpenAI CEO Sam Altman. The funding round raised $25 million at a valuation of $1 billion at the time. Other participants included former FTX CEO Sam Bankman-Fried, Andreessen Horowitz, and Coinbase Ventures. In an X post on Feb. 19, 3AC founder Su Zu noted that he received heavy criticism for the company’s investment in Worldcoin, adding that the backlash caused seed round investors not to endorse the project on X. Meanwhile, the 3AC founder praised Worldcoin in 2021, describing it as “one of the most ambitious and uplifting projects” that he has ever seen in the crypto industry. Got hated on a lot for this worldcoin investment in 2021. i remember the hit pieces on it were so bad most of the seed rd refused to tweet to support it I wont be benefiting from WLD outperformance but i’m glad 3ac creditors have one of the largest positions in WLD in the world https://t.co/maCxk5otWr — 朱溯 🐂 (@zhusu) February 19, 2024 But with the price of WLD hitting a new ATH, it seems 3AC’s investment in the token may benefit creditors, considering the value of its WLD tokens. “I won’t be benefiting from WLD outperformance, but I’m glad 3ac creditors have one of…

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Filed under: News - @ February 21, 2024 2:26 am