WLD plunges 20% as Hayes dumps token a day after saying he would keep holding it

The BitMEX co-founder and Maelstrom CIO cited a falling chart of SpaceX stock, which does not begin trading until June 12, as Worldcoin slid about 10%. Jun 6, 2026, 8:25 a.m. 2 min readMake preferred on What to know: Arthur Hayes, co-founder of BitMEX and head of family office Maelstrom, said he sold the firm’s entire Worldcoin stake on Friday, less than a day after publicly signaling he would keep holding the token.Hayes linked his decision to a sharp drop in pre-listing prices for SpaceX shares, which he had treated as connected to the AI trade that Worldcoin was meant to proxy.Worldcoin fell about 10 percent in the past 24 hours, part of a broader crypto market decline, with a notable leg down after Hayes announced his exit.Crypto investment opinions are changing in less than 24 hours these days.Arthur Hayes, co-founder of crypto exchange BitMEX and chief investment officer of family office Maelstrom, said on Friday the firm had sold its entire stake in Worldcoin, the digital token tied to Sam Altman's eye-scanning identity project, a day after he said it would keep holding the token. "Dumped $WLD. I'm out. See y'all at the clerb," he wrote, alongside a chart of SpaceX stock sliding. WLD dropped 10% in the past 24 hours, with a chunk of the move coming after Hayes' tweet.A day earlier Hayes had said Maelstrom was keeping Worldcoin. The firm had just sold all of its Zcash, a privacy coin, blaming a flaw in its Orchard privacy pool that he said undercut the reason to own it, and Hayes said the firm would rebuy it higher if he turned out to be wrong. Worldcoin it would keep, he said then, while waiting for 'Lord Elon' - referring to Elon Musk - to lift the price.The connection ran through artificial intelligence. SpaceX has increasingly pitched its listing as an AI and connectivity play rather than just a rocket company, so a strong debut promised to lift the broader AI and tech trade. Worldcoin, an AI-themed token that trades around the clock, was the fund's fast way to ride that, a liquid stand-in for SpaceX shares that retail cannot easily buy and that are not yet trading.SpaceX trades under the ticker SPCX but does not list on the Nasdaq until June 12, so the price Hayes reacted to is a pre-listing quote from private markets for a company that is not yet public. Worldcoin is also Altman's project, not Musk's, and the two men run rival artificial intelligence firms.Pre-listings for SpaceX stock are down more than 50% in the past few days on Hyperliquid, data shows, giving less of a reason for AI bettors to be holding the proxy.Hayes is a frequent, market-moving voice in crypto. Worldcoin was bucking a market-wide downturn with a 70% rise over the past month, a gain that has trimmed down to 45% over the past week on Saturday's price drop.More For YouBitcoin fell as low as $59,227 overnight before recovering, steadying after Friday's strong jobs report set off a selloff that sank the Nasdaq 100 about 5% and rattled stocks, bonds and crypto together.What to know: Bitcoin briefly fell below $60,000 before rebounding to about $61,000 in Saturday Asian trading, easing fears of a deeper breakdown after a weeklong slide.The drop followed a strong U.S. jobs report that spurred markets to price in higher-for-longer interest rates, sending Treasury yields and the dollar up while hammering...Read full storyTop Stories