Worldcoin Denies Insider Trading Allegations Amid 7% Drop and Major Token Unlock

Worldcoin has denied allegations of insider trading and price manipulation concerning its WLD token. The company asserts a zero-tolerance policy on token movement abuses and maintains strict blackout periods for team members. These allegations surfaced as Worldcoin prepares to unlock 2.38 billion WLD tokens, valued at $5.545 billion, starting on July 24. The tokens will be unlocked linearly over the next four years, with 1.63 million WLD being released daily. The price of WLD dropped 7% ahead of the unlock. Despite the controversy and accusations from DeFi Squared and ZachXBT, major exchanges like Binance continue to support WLD.