Worldcoin, Sam Altman's crypto venture, experienced a notable setback as its token, WLD, took a sharp 12% plunge to $1.91, based on data from CoinMarketCap.
Back in May, Altman's project had successfully raised $115 million in a Series C funding round led by Blockchain Capital. The initiative was aimed at launching a crypto startup that utilized eyeball-scanning technology to distinguish humans from AI online, promoting global democratic processes and fostering economic opportunities.
Altman expressed ambitious goals for Worldcoin, envisioning it as a catalyst for economic growth, a reliable solution for online identity verification, and a potential avenue for AI-funded Universal Basic Income (UBI).
Worldcoin's platform involves a privacy-centric digital identity system known as World ID, coupled with a digital currency (WLD) awarded to individuals solely for being human. The application garnered over four million downloads and boasts an active user base that has doubled on a global scale.
Meanwhile, Altman faced unexpected professional upheaval as he was ousted as CEO of OpenAI, the company behind the development of AI chatbot ChatGPT. The board's decision, announced late on Friday, cited a loss of confidence in Altman's leadership due to perceived inconsistencies in his communication with the board, hindering its oversight responsibilities.
In the wake of Altman's departure, OpenAI appointed Mira Murati as the interim CEO, effective immediately, and has initiated a search for a permanent successor to the CEO role. This sudden change in leadership signals a significant shift within the organization Altman once led.
(With Agency Inputs)
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