Altman’s Worldcoin Token Goes on a Wild Ride Around OpenAI Drama

Bloomberg2023-11-20

Worldcoin is a crypto identity system started partly by AltmanProject’s virtual token has surged 18% over the past 24 hoursThe Worldcoin digital token from a project co-founded by Sam Altman has been ...

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Worldcoin eventually hit a low of $1.84 in the hours after his exit, CoinGecko data shows.Worldcoin, also known as WLD, has since rallied 18% in 24 hours to retake the $2.40 level amid efforts by a group of OpenAI executives and investors to reinstate Altman as chief executive officer. The token has a market value of about $280 million, ranking it 157th in the crypto market, according to CoinGecko as of 8:51 a.m. in Singapore on Monday.Source: CoinGecko.“It’s all driven by Altman news flow and concerns over his ouster at OpenAI,” said Richard Galvin, co-founder at Digital Asset Capital Management. The token “rallied back as it became clearer there was no key negative event that drove the board’s move,” he said.Worldcoin is a blockchain-based system that uses a small orb to scan people’s eyeballs in order to generate a unique digital identity. Altman co-founded the company behind it, Tools for Humanity.Holders of a so-called World ID digital identity can also receive Worldcoin tokens. The coins aren’t available in the US due to a lack of regulatory clarity.World IDs are meant to establish personhood in an artificial intelligence-enabled future where distinguishing between humans and machines may become harder. The project that has stirred both privacy and ethics concerns.Worldcoin didn’t immediately respond to a request for comment about the gyrations in the token over the past few days.A group of 90 crypto coins linked to the AI theme has also posted volatile performance, including a 7% jump in combined market value over the past 24 hours to about $6.5 billion, CoinGecko figures show.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":2,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1185008573"}