Worldcoin Drops 20% After Arthur Hayes Exits Position Amid AI Market Concerns

Worldcoin (WLD) came under heavy pressure after BitMEX co-founder and Maelstrom Chief Investment Officer Arthur Hayes announced that his firm had sold its entire position in the token. The move came less than 24 hours after Hayes publicly indicated that Maelstrom planned to continue holding Worldcoin.

The sudden reversal triggered fresh selling pressure, contributing to a sharp decline in WLD. The token dropped around 20% during the broader cryptocurrency market downturn, with a significant portion of the losses occurring after Hayes disclosed his exit.

SpaceX Valuation Concerns Influence Decision

Hayes linked his decision to falling pre listing valuations of SpaceX shares in private markets. According to market data, pre-listing prices for SpaceX stock have declined by more than 50% in recent days.

Maelstrom had viewed Worldcoin as a liquid way to gain exposure to the growing artificial intelligence sector. Hayes previously suggested that a strong SpaceX market debut could benefit AI-related assets, including Worldcoin. However, weakening private-market sentiment appears to have changed that outlook.

AI Narrative Faces New Pressure

Worldcoin is closely associated with OpenAI CEO Sam Altman’s digital identity project, which uses biometric verification technology. The token had been one of the stronger performers in the crypto market, gaining roughly 70% over the previous month before the latest correction reduced weekly gains to about 45%.