Worldcoin (WLD) experienced a sharp 20% decline after Arthur Hayes, co-founder of BitMEX, announced the sale of his entire stake in the token. This move came just a day after Hayes had indicated his intention to hold onto Worldcoin, which is linked to Sam Altman's eye-scanning identity project. Hayes' decision to sell was shared via a tweet, which contributed to a 10% drop in WLD's value within 24 hours. The abrupt change in Hayes' investment strategy follows his recent sale of Zcash, citing flaws in its privacy features. Initially, Hayes had planned to retain Worldcoin, anticipating a boost from SpaceX's AI-driven market debut. However, with SpaceX's pre-listing shares dropping over 50% recently, the rationale for holding Worldcoin as a proxy diminished. Despite a previous 70% rise, Worldcoin's gains have now reduced to 45% following the latest sell-off.