Openai Leadership Changes Triggers Worldcoin Downfall
On November 17, 2023, Openai, the company behind Chatgpt, announced the departure of its CEO, Sam Altman, who played a significant role in the Worldcoin crypto venture. Mira Murati, the CTO, is stepping in as interim CEO. The announcement expressed appreciation for Altman’s contributions but also revealed the board’s lack of confidence in his leadership.
According to the board, Altman’s departure was the result of a review process that concluded he was not consistently transparent with the board, impeding its ability to fulfill its responsibilities.
Worldcoin’s Performance After Altman’s Exit
Altman’s influence extended to the Worldcoin crypto project, which saw a 13.5% drop in its native token, WLD, in response to the news. The token’s trading range fluctuated between $1.89 and $2.25, with a partial recovery to an 8% decline against the U.S. dollar, now trading at $2 per unit.
With a market capitalization of $219 million, Worldcoin ranks 171st in the global crypto market, generating $144 million in trading volume, mainly paired with tether (USDT).
Hot Take
Investors closely monitor the impact of leadership changes, evident in Worldcoin’s response to Sam Altman’s exit from Openai. The swift market reaction raises questions about the interconnectedness of AI and the crypto market.
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