Markets Share Share this article Copy link X (Twitter) LinkedIn Facebook Email WLD Drops 20% Following Hayes' Token Sale After Promising to Hold
Arthur Hayes, the BitMEX co-founder and Maelstrom CIO, attributed the decision to a downturn in SpaceX stock prices, which are set to begin trading on June 12, as Worldcoin declined by approximately 10%.
By Shaurya Malwa Jun 6, 2026, 8:25 a.m. 2 min read Make preferred onKey Points:
- On Friday, Arthur Hayes disclosed that he had sold off the entire stake in Worldcoin held by Maelstrom, just a day after indicating he would retain the asset.
- He cited a significant drop in the pre-listing valuation of SpaceX shares, which he believed was linked to the AI sector that Worldcoin was intended to represent.
- During the past 24 hours, Worldcoin experienced a 10% decline, contributing to a wider downturn in the cryptocurrency market, particularly following Hayes' announcement.
Investment strategies in the crypto space are changing rapidly these days.
Arthur Hayes, who co-founded the BitMEX exchange and leads the family office Maelstrom, stated on Friday that the firm had divested its entire position in Worldcoin, a digital token associated with Sam Altman's eye-scanning identity initiative, merely a day after he expressed intentions to hold it.
“Dumped $WLD. I'm out. See y'all at the clerb,” he tweeted, sharing a chart showing the decline of SpaceX stock. WLD dropped 10% over the last day, with a significant portion of the decline occurring after Hayes' tweet.
This chart is going in the wrong direction. Dumped $WLD. I’m out. See y’all at the clerb. pic.twitter.com/TcfYzCmtSv
— Arthur Hayes (@CryptoHayes) June 6, 2026
The day prior, Hayes had mentioned that Maelstrom would retain its Worldcoin holdings. He had recently announced the sale of all Zcash, citing a flaw in its Orchard privacy pool that he claimed undermined its value, stating that he would consider repurchasing it later if needed. Regarding Worldcoin, he had expressed optimism, suggesting they were waiting for 'Lord Elon'—a reference to Elon Musk—to boost its price.
The rationale behind this connection stemmed from artificial intelligence. SpaceX has increasingly promoted its upcoming listing as a venture into AI and connectivity rather than just a space company, suggesting that a successful launch would benefit the wider AI and technology market.
Worldcoin, an AI-focused token that trades continuously, was seen by the fund as a quick way to engage with the AI market, serving as a liquid alternative to SpaceX shares, which are not easily accessible to retail investors and are not yet publicly traded.
SpaceX is set to trade under the ticker SPCX but will not officially list on the Nasdaq until June 12, so the price Hayes reacted to was based on private market pre-listing data. Additionally, while Worldcoin is Altman's endeavor, Musk and Altman are competitors in the AI space.
Recent pre-listing valuations for SpaceX shares have plummeted by over 50% in recent days on Hyperliquid, providing less incentive for those betting on AI to hold onto this proxy.
Hayes is known for his influential presence in the crypto market. Worldcoin had previously shown resilience against a market downturn, surging 70% over the past month, a figure that has now decreased to a 45% increase following the recent price drop.
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