Worldcoin price has fallen over the last 24 hours as new issues and the overthrow of Sam Altman continue to spread.
Worldcoin (WLD) price reacted to news in the artificial intelligence (AI) industry, especially as it relates to OpenAI. WLD, the native token of the Worldcoin project co-founded by Altman, rose more than 9% in the last 24 hours and was trading at $2.55, according to data from CoinGecko.
The data also showed that it rose more than 31% over the past week. Unfortunately, current data at the time of writing shows that the Worldcoin price has also succumbed to market volatility.
Although it rose very slightly in the last hour, the price of Worldcoin has fallen by 6.4% in the last 7 days. Last week, Sam Altman was removed from his position as CEO of OpenAI, the company that launched ChatGPT last November.
News on OpenAI
According to a New York Times publication, OpenAI directors stated that the former CEO would not return to his position at the company. The note also mentions that former Twitch CEO Emmett Shear will replace Mira Murati, the company’s interim CEO.
Shortly after Altman was fired, Microsoft gave him a job. According to an X email from Microsoft CEO Satya Nadella, Altman and former OpenAI co-founder and president Greg Brockman will lead a new AI research team. In a subsequent post,
Nadella expressed his excitement about Altman’s addition, calling it a “new pace for innovation.” Microsoft and other OpenAI investors, including Thrive Capital and Tiger Global, were pushing for the company to restore Altman’s position. Unfortunately, this did not happen.
Although Microsoft is not on OpenAI’s board of directors, the multinational tech giant owns about half of the company. In January, Microsoft invested $10 billion in OpenAI, easily the company’s largest investment in its history.
Worldcoin fell 10% on Friday as OpenAI’s board of directors fired Sam Altman, citing transparency issues. In an official blog post, the board said it conducted a deliberative review process and concluded that Altman “was not consistently candid in his communications with the board.”
The board added that it no longer trusts Altman’s leadership. Worldcoin has had a checkered past as regulators in several countries banned its operations. Worldcoin is a biometric cryptography project from global software and hardware company Tools for Humanity, co-founded by Altman in 2019.
About Worldcoin Project
The Worldcoin project came under public scrutiny after it insisted that users must submit biometric data to register, including performing iris scans. Users who complete the process receive cryptocurrency in exchange. More than 9,500 Argentinians have reportedly registered on Worldcoin. Worldcoin facilitators had distributed the registry to 38 different locations.
Despite strong criticism, the project achieved impressive results in the country. Argentina joined countries such as France and Germany, which are probing the company’s operations. In August, Kenyan authorities suspended Worldcoin’s operations and then raided its warehouse a week later. Police officers left the warehouse with machines that allegedly contained data collected from registrants. Worldcoin was paying Kenyans around $49 in cryptocurrency for registration.
Currently WLD is trading around $2.32 with a decrease of -4.5% in the last 24 hours, according to CoinMarketCap. Altman, along with Greg Brockman, president of OpenAI, is assembling a team to forge a new business path and develop a promising product that is expected to be “amazing.” The news has had a palpable impact on the cryptocurrency market and has put Worldcoin in the spotlight.
By Leonardo Perez
