Turbulence in Tech: Altman’s Exit from OpenAI Shakes Worldcoin Market

Estimated read time 2 min read
  • Sam Altman, co-founder of Worldcoin, was recently ousted as CEO of OpenAI, leading to a 12% drop in Worldcoin’s price.
  • The Worldcoin project, aiming to use eye-scanning for a digital identity system, raised $115 million in Series C funding and has over 4 million app downloads.

Sam Altman, known for his role in co-founding the eye-scanning cryptocurrency startup Worldcoin, faced a dramatic turn in his career following his ousting as CEO of OpenAI. The board of OpenAI cited a lack of consistent candour in Altman’s communications, leading to a loss of confidence in his leadership. This development had an immediate impact on Worldcoin (WLD), which saw a 12% price drop​​​​​.

The Genesis of Worldcoin

Altman’s Worldcoin project, launched in July, aimed to create a digital identity system using biometric data, particularly eye-scanning, to distinguish humans from AI. The initiative was part of a broader vision to enable global democratic processes and potentially pave the way for an AI-funded Universal Basic Income (UBI). The project has garnered significant attention, with over 4 million app downloads and a surge in active users worldwide.

Altman’s Departure and Worldcoin’s Reaction

The repercussions of Altman’s exit from OpenAI were immediately felt in the cryptocurrency market. Worldcoin’s token experienced a notable decline, reflecting investor concerns about the future of the project in light of Altman’s departure. Despite this setback, the Worldcoin team remains committed to its vision, with a focus on leveraging biometric technology for digital identity verification.

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