Sam Altman, ousted CEO of OpenAI, will reportedly return to his job. How can it influence the price of Worldcoin?
On November 17, Sam Altman was unexpectedly removed from his position at OpenAI, the developer of ChatGPT, sparking debates within the artificial intelligence (AI) community. Altman’s ouster drew attention to his ties to Worldcoin, a cryptocurrency project focused on the fair distribution of global wealth. The project’s WLD token saw a significant increase in volatility following the recent news.
Negotiations regarding Sam Altman’s return to OpenAI are reportedly ongoing. Incidentally, Worldcoin’s Tools for Humanity website lists Altman as co-founder and president of the project, and a spokesperson confirmed that the website remains a current indicator of his position.
OpenAI’s Sam Altman’s departure was due to Board concerns about his lack of transparency in communication and doubts about his leadership abilities: “We appreciate Sam’s many contributions to the founding and growth of OpenAI. At the same time, we believe new leadership is necessary as we move forward.”
Interestingly, OpenAI staff say they will resign if Sam Altman is not reinstated. Now, according to The Verge, the OpenAI board is considering bringing him back as CEO after his dismissal. Particularly, does the fact that Altman held talks with the company just hours after his firing indicate that OpenAI is in a state of free fall without him?
Sam Altman Generates Optimism in the Market
Some reports suggest Altman could consider returning, but insist on a revamped board and governance structure as a prerequisite for his reinstatement. However, concrete information about this rumored return is scarce.
The news that Sam Altman is continuing his work at Worldcoin-backed Tools for Humanity or returning as CEO could have a positive impact on Worldcoin price for several reasons:
Sam Altman’s experience: His contribution to Tools for Humanity could increase credibility and trust in the project.
Boosting Adoption: Ha could generate greater interest and support from the Startup and Entrepreneur community, which could contribute to greater adoption of Worldcoin.
Sam Altman’s departure from OpenAI was due to board concerns about his lack of transparency in communication and doubts about his leadership abilities. The OpenAi Board statement reported the following:
“OpenAI was deliberately structured to advance our mission: ensuring that artificial general intelligence benefits all of humanity. The board remains fully committed to fulfilling this mission. We appreciate Sam’s many contributions to the founding and growth of OpenAI.
At the same time, we believe new leadership is necessary as we move forward. As the leader of the company’s research, product and security functions, Mira is uniquely qualified to assume the role of interim CEO. “We have the utmost confidence in his ability to lead OpenAI through this transition period.”
However, this decision has drawn criticism from influential stakeholders and investors, including Microsoft, who advocate for its reinstatement.
What Will Be the Fate of Worldcoin?
Days after losing more than 10% of its value following the news of Sam Altman’s firing as CEO of OpenAI, Worldcoin (WLD) recovered more than 20%. Especially, rumors surrounding Altman’s possible return to OpenAI have caused a rebound in the value of the WLD token, recovering from the previous crisis.
Specifically, according to CoinGecko data, the WLD token initially fell after Altman’s sudden departure from OpenAI, but its price has since recovered from $1.83 to $2.50.
In closing, will Sam Altman return to OpenAI? Could his return have a positive impact on the price of Worldcoin? The outcome remains to be seen.
By Leonardo Perez