Artificial intelligence (AI) company OpenAI shocked us with a blog post its board of directors published on Friday. Because he announced that he removed Sam Altman from his position as CEO and from the board of directors. This development also caused the company’s altcoin project, Worldcoin, to collapse. Here are the details…
Sam Altman leaves Open AI
Following Sam Altman’s departure from OpenAI, its repercussions went far beyond the field of artificial intelligence. Worldcoin, the iris-scanning biometric project that was Altman’s brainchild, was affected by the events. It experienced a turbulent decline as news of its release sent shockwaves through the BTC and altcoin markets. Reports from CoinGecko showed that the coin crashed immediately after Altman announced his departure from OpenAI. The WLD token associated with Worldcoin exhibited a staggering 12 percent decline. Altman founded Worldcoin with Max Novendstern and Alex Blania in 2019. However, he faced removal from his position as CEO of OpenAI due to a review by the board of directors.
The board cited a significant lack of transparent communication that impacted their responsibilities and ultimately eroded trust in Altman’s leadership. This drastic turn of events was quickly reflected in the market value of the WLD token, which has fallen to $1.86 per token as of writing, marking a significant 42 percent drop from its all-time high of $3.30 when Worldcoin exited beta in July. did.
Other AI altcoin projects were not affected by the news
The immediate decline was summed up in the speed of market reactions. He specifically pointed out the fluid nature of this situation. However, it is noteworthy that while Worldcoin has experienced a significant pullback, the broader AI altcoin and token category as measured by CoinGecko has experienced 30 percent growth, reaching a market cap of $5.4 billion in the last 24 hours. Worldcoin’s iris scanning biometric technology has come under criticism from privacy advocates. However, as we reported as Kriptokoin.com, it attracted attention when it came out of beta in July 2023. The project, developed by Tools for Humanity with the support of venture capital firm Andreessen Horowitz, features WLD, an Ethereum-based altcoin.
https://twitter.com/sama/status/1725631621511184771
While not available in the US, Worldcoin’s presence is notable in certain states where iris scanning spheres have been deployed, such as New York, San Francisco and Atlanta. Amid the fallout surrounding Altman’s departure, the broader AI altcoin market appeared resilient. This suggests that the effects of Altman’s exit did not significantly impact the overall AI cryptocurrency industry. Rather, he suggests that it primarily affects Worldcoin. As a result, the sudden drop in WLD token value and the turmoil surrounding Altman’s exit attracted attention. He also highlighted the complex interplay between the volatile nature of cryptocurrency markets. Apart from this, it has prepared investors and stakeholders for the ongoing turbulence in the Worldcoin ecosystem.
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