Worldcoin's Value Fluctuates Amidst Sam Altman's OpenAI Exit and AI Cryptos' Rise
Summary:
Following Sam Altman's departure from OpenAI, Worldcoin (WLD) - a cryptocurrency linked to his retina-scanning project - experienced a significant fluctuation. After hitting an intraday high, it fell when Altman was replaced as CEO of OpenAI by Twitch's co-founder, Emmett Shear. Amidst all this, AI-based cryptocurrencies have performed well, with market cap of AI-related tokens increasing by 7.2% to $6.5 billion. Worldcoin's launch has created concerns over centralization, privacy, and safety in the crypto community.
Worldcoin, the cryptocurrency tied to Sam Altman's retina-scanning initiative, has faced significant fluctuations rather recently, following his departure from OpenAI and swirling speculations regarding his return. Notably, Worldcoin, abbreviated as WLD, peaked at $2.48 on November 16, prior to a downtrend that sped up following Altman's exit from OpenAI on November 17 in the United States. This led to its value plunging to nearly $1.84 as CoinGecko's data highlight. Despite the downward trend, it bounced back quickly, with a 12% surge within 24 hours to hit an intraday peak of $2.54 during Asian trading hours on Monday. But with Altman's replacement at OpenAI by Twitch's co-founder, Emmett Shear, it again dipped to $2.30. Altman jointly set Worldcoin in motion in July, distinct from OpenAI. Interestingly, the brief recovery of WLD's value coincided with the attempts by certain OpenAI executives and investors to reappoint Altman as the CEO of the AI company. Worldcoin's vision is to create a global digital identification system supported by retina scanning to verify identities amidst the expanding sphere of AI. Since its inception, it has stirred the crypto community, raising concerns over centralization, privacy, and safety. Meanwhile, AI-based cryptocurrencies have seen gains, with the market cap of AI-related tokens soaring by 7.2% to $6.5 billion. Cryptocurrencies like Fetch.ai, SingularityNET and Akash Network have recorded substantial increases, as per CoinGecko.
Published At
11/20/2023 6:01:00 AM
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