March 28, 2024
OpenAI CEO Change Impacts Worldcoin Cryptocurrency Value
Latest Cryptocurrency News

OpenAI CEO Change Impacts Worldcoin Cryptocurrency Value

Worldcoin (WLD), the cryptocurrency linked to Sam Altman’s retina-scanning initiative, faced significant fluctuations in recent days amid Altman’s removal from OpenAI and his potential return discussions, culminating in his ultimate replacement.

WLD experienced a peak of $2.48 on November 16 before entering a decline, notably accelerating post-Altman’s ousting by OpenAI on November 17 in the United States. This descent led to a low of nearly $1.84, according to CoinGecko data.

Despite these setbacks, WLD demonstrated resilience, registering a 12% surge in the last 24 hours, reaching an intraday high of $2.54 during Monday morning’s Asian trading. However, it subsequently dropped to $2.30 following Altman’s replacement as CEO by Twitch co-founder Emmett Shear.

Altman, a co-founder of Worldcoin, launched the project in July, and though distinct from OpenAI, WLD’s initial rebound coincided with reported efforts by a group of OpenAI executives and investors to reinstate Altman as the AI firm’s CEO.

Worldcoin functions as a digital identity platform with aspirations to establish a global ID and financial system using retina scanning technology for human authentication, addressing the growing influence of artificial intelligence (AI).

The launch of Worldcoin sparked division within the crypto community, prompting inquiries into issues of centralization, privacy, and security.

Over the past 24 hours, AI-related cryptocurrency assets have outperformed, witnessing a 7.2% increase in market capitalization to $6.5 billion. Tokens like (FET), SingularityNET (AGIX), and Akash Network (AKT) experienced double-digit gains, according to CoinGecko.

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