World Foundation seen selling $52.5M in WLD, signaling cashing out rather than reinvestment

On-chain transactions detected overnight suggest the World Foundation sold about 217.4 million WLD worth around $52.5 million, according to on-chain analytics firm Hubz, formerly Spot On Chain. Hubz said the foundation appears to have cashed out the tokens at an average sale price of $0.2415 and received about 47.5 million USDC after the sale. Hubz added simultaneous USDC inflows and WLD outflows pointed to an intentional sale rather than a routine fund transfer. Given current WLD trading volume, the size of the transaction is large enough to absorb buy-side liquidity, Hubz said. The firm also assessed the USDC raised in the sale was more likely used for operating expenses than for reinvestment. Traders should view token sales by the foundation as ongoing selling pressure, Hubz said, adding the sale at around $0.2415 suggests the foundation may also have limited expectations for a short-term price recovery. Earlier, the World Foundation said on its official X account it had raised $52.5 million from Pantera Capital, Bain Capital Crypto, Eighthko Holdings, Selini Capital, Susquehanna Crypto and strategic investors, adding the funding was carried out through investors directly purchasing WLD at market prices.