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Arthur Hayes said Maelstrom sold its entire Worldcoin position days after the firm described WLD as a liquid crypto proxy for the next wave of AI-linked IPOs.
The BitMEX co-founder wrote on X that he sold WLD after watching a pre-listing SpaceX price chart fall. Hayes linked that move to Maelstrom’s broader AI IPO trade.
WLD Trades Near $0.47 After 60% Weekly Rally
The reversal hit a token that had rallied on Maelstrom’s bullish thesis earlier in the week. WLD was recently near $0.47, with an intraday range between $0.42 and $0.51.
The token had rallied more than 60% in a week before the pullback, helped by the AI proxy narrative and higher trading volume. Spot trading volume exceeded $1.49 billion during the move, while WLD remained well below its March 2024 peak.
Hayes Reversed One Day After Hold Comment
Hayes said Maelstrom sold its entire WLD position less than a day after publicly stating that the fund would continue holding the token. He tied the exit to falling pre-listing prices for SpaceX shares, which Maelstrom had treated as part of the same AI-linked private-market trade.
The sale removed one of the most visible public backers of the WLD trade after Maelstrom’s bullish note.
Maelstrom Had Set $5 WLD Target by August
Maelstrom researcher Lukas Ruppert had argued that WLD was one of the cleaner liquid ways to trade demand for private AI exposure. The thesis tied Worldcoin to AI identity and investor demand around companies such as OpenAI and Anthropic.
Maelstrom’s note said WLD could reach $5 by August if the trade gained momentum. The firm pointed to WLD’s smaller unlocked market value compared with private AI companies, heavy short interest and a changing token unlock schedule.
WLD Unlocks Set to Fall 43% on July 24
Maelstrom said Worldcoin’s daily unlocks are expected to fall by about 43% on July 24. The note said emissions would drop from roughly 5.1 million WLD to about 2.9 million WLD per day. Lower unlocks could reduce routine selling pressure if demand remains active.
Maelstrom also pointed to Eightco Holdings, which reported 283.45 million WLD and about $144 million in cash and stablecoins. The firm said Eightco already holds about 8.3% of circulating WLD supply.
Hayes Exit Weakens WLD Endorsement
Hayes’ sale does not change Worldcoin’s AI identity pitch, but it weakens the most visible endorsement behind Maelstrom’s WLD trade.
WLD was recently near $0.47 after rallying more than 60% earlier in the week. The token now has to hold attention without Hayes still publicly backing the position.
