Worldcoin’s (WLD) native currency shot up the cryptocurrency market gainers list on Wednesday, fueled by developments surrounding the project’s founder, Sam Altman. WLD saw a remarkable increase of over 10% in price, accompanied by a surge in trading volume, which jumped by 83% within the past 24 hours. This bullish trend stands in stark contrast to the downward trajectory of prominent cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). The rally gained momentum after news broke about OpenAI, the company behind ChatGPT, transitioning from a non-profit to a for-profit entity. This shift included a significant equity stake for Altman, as reported.
Sam Altman launched the Worldcoin project last year, generating considerable media attention. The project focuses on collecting individuals’ iris scans to verify their human identity and create a digital ID, thereby granting them access to free WLD tokens. However, Worldcoin has faced persistent challenges due to concerns about personal data privacy. Several countries, including Hong Kong, Kenya, and Spain, have banned the project. This governmental scrutiny has significantly hampered WLD’s growth, with the coin losing 43% of its value since the beginning of the year.
Despite the challenges, WLD traded at $2.07 at the time of writing, reflecting a 10.62% increase over the past 24 hours, according to data from Benzinga Pro. The news surrounding Altman’s equity stake in OpenAI appears to have overshadowed the ongoing concerns about Worldcoin’s privacy practices, at least for the time being. It remains to be seen whether this positive momentum can sustain itself amidst the ongoing regulatory scrutiny and public debate surrounding the project’s ethical implications.
