Worldcoin's value dropped by 20% following Arthur Hayes' unexpected decision to sell his entire stake in the cryptocurrency, just a day after he had pledged to retain it. The co-founder of BitMEX and head of Maelstrom cited a significant decline in SpaceX’s pre-listing stock valuation as a key factor in his decision.
Impact of SpaceX Stock Decline
Hayes revealed on Friday that Maelstrom had divested all of its Worldcoin holdings, which are tied to Sam Altman's eye-scanning identity project. He had previously indicated a commitment to hold the asset, creating a stark contrast with his sudden sell-off. In his tweet, he expressed frustration over the dropping value of both Worldcoin and SpaceX shares, stating, "Dumped $WLD. I'm out. See y'all at the clerb." This tweet coincided with a 10% drop in Worldcoin's price, further exacerbating the cryptocurrency's decline.
This chart is going in the wrong direction. Dumped $WLD. I’m out. See y’all at the clerb.
— Arthur Hayes (@CryptoHayes) June 6, 2026
The day before his sale, Hayes had indicated optimism regarding Worldcoin, suggesting that he was waiting for support from Elon Musk to elevate its price. However, the recent plunge in SpaceX's pre-listing valuation—over 50% in a short period—has diminished investor confidence in related assets, including Worldcoin.
