Worldcoin token’s value drops nearly 10% after Sam Altman removed as OpenAI CEO

Sam Altman, the now former CEO of OpenAIhas left his position and is leaving his board of directors, according to a company job Friday. But questions about his role in other entities like Worldcoin, the crypto project he co-founded, remain unanswered as his token falls into the news.

Worldcoin’s token WLD fell more than 13% that day to $1.91, CoinMarketCap data watch. When asked about Altman’s future at Worldcoin or his plans for the future, Worldcoin did not respond to TechCrunch’s request for comment.

Altman crypto project raised $115 million in May as part of a Series C funding round led by Blockchain Capital. In March, TechCrunch reported Altman was on the board of directors of Worldcoin, but is not involved in “day-to-day” operations.

Worldcoin obtains users by scanning irises through its Orb, which then assigns users an “iris code” or “World ID” which allows users to access the projects application and provides them with “a digital passport” , said Tiago Sada, product manager for Tools for Humanity and one of the main contributors to Worldcoin, said the TechCrunch Chain Reaction Podcast in September. The verification process would allow people to prove their identity, and the iris code is used to ensure they don’t go looking for another one.

In August, Worldcoin faced resistance from countries including Kenya, which interrupted the project analysis no longer the eyes of its citizens (and the project ignored the initial orders). Worldcoin has faced backlash from critics, who claim the company targets developing economies. The project gives most participants (outside the US and some other countries) 25 WLD tokens, worth around $48, in exchange for signing up, which could be considered exploitative.

Sada said that giving out free tokens and going to developing countries was right because most projects, especially in crypto and technology, focus on emerging markets because “those are the most easy to use.”

While OpenAI said Friday that the board “no longer has confidence in [Altman’s] ability to continue to lead” the company, his statement does not fully explain why Altman was fired or where he stands in relation to other related organizations, like Worldcoin.

Worldcoin’s app has more than four million downloads and the number of active users is “more than double” globally, according to a report. blog post from the beginning of November. There are more than 2.4 million “unique humans” on Worldcoin and in the last seven days, at the time of writing, approximately 53,800 new accounts have been created and more than 59,000 daily transactions with portfolio, according to company data. website.