Founder Sam Altman’s Exit Causes Worldcoin to Spiral Downward

Founder Sam Altman's Exit Causes Worldcoin to Spiral Downward

Worldcoin Token Woes After Sam Altman’s Departure

Following the news of Sam Altman’s departure from OpenAI, the value of the WLD token linked to the Worldcoin project took a significant hit, dropping by 14%, according to CoinGecko. Altman was removed as CEO of OpenAI due to a lack of transparent communication, leading to a loss of confidence from the board.

Market Response

Worldcoin’s price had to be updated twice while this post was being written, and at 4:30 p.m. ET, the token was trading at $1.89 with a market capitalization of $218 million and $141 million in trading volume over the last 24 hours.

This represents a 42% decline from the token’s all-time high of $3.30 seen in July.

AI Coin Market

Despite Altman’s exit affecting Worldcoin, the broader AI coin market grew by 30% within the past 24 hours, reaching a market cap of $5.4 billion, according to CoinGecko.

Worldcoin Project and Token

Worldcoin, developed by Tools for Humanity, involves a biometric authentication system called World ID, which uses iris scanning to authenticate human identity online. Users receive Worldcoin in return for participating in the network, with the project inspired by universal basic income discussions.

The project’s token, WLD, is Ethereum-based, and the iris-scanning technology has been deployed in cities like New York, San Francisco, and Atlanta.

Project Controversy

Despite raising significant funds, Worldcoin faced criticism, with allegations of deception and exploitation, leading to pushback from privacy advocates and government scrutiny in countries like Kenya, the U.K., Germany, and France. Kenya has even suspended Worldcoin’s enrollment due to security, privacy, and financial concerns.

Hot Take

Read Disclaimer
This page is simply meant to provide information. It does not constitute a direct offer to purchase or sell, a solicitation of an offer to buy or sell, or a suggestion or endorsement of any goods, services, or businesses. does not offer accounting, tax, or legal advice. When using or relying on any of the products, services, or content described in this article, neither the firm nor the author is liable, directly or indirectly, for any harm or loss that may result. Read more at Important Disclaimers and at Risk Disclaimers.

Altman’s departure has significantly impacted the value of the WLD token, raising questions about the future of the Worldcoin project in the face of controversy and government scrutiny.

Founder Sam Altman's Exit Causes Worldcoin to Spiral Downward
Author – Contributor at | Website

Demian Crypter emerges as a true luminary in the cosmos of crypto analysis, research, and editorial prowess. With the precision of a watchmaker, Demian navigates the intricate mechanics of digital currencies, resonating harmoniously with curious minds across the spectrum. His innate ability to decode the most complex enigmas within the crypto tapestry seamlessly intertwines with his editorial artistry, transforming complexity into an eloquent symphony of understanding. Serving as both a guiding North Star for seasoned explorers and a radiant beacon for novices venturing into the crypto constellations, Demian’s insights forge a compass for informed decision-making amidst the ever-evolving landscapes of cryptocurrencies. With the craftsmanship of a wordsmith, they weave a narrative that enriches the vibrant tableau of the crypto universe.