Sam Altman, the now former CEO of OpenAIstepped down from his role and left its board, according to a company post on Friday. But questions about his role in other entities such as Worldcoin, his crypto project that he founded, remain in the air as its token falls into the news.
Worldcoin token, WLD, fell more than 13% on the day, to $1.91, CoinMarketCap DATA shown. When asked about Altman’s future at Worldcoin or its plans going forward, Worldcoin did not respond to TechCrunch’s request for comment.
Altman’s crypto project raised $115 million in May in a Series C round led by Blockchain Capital. In March, TechCrunch reported that Altman was on the board of Worldcoin, but was not involved in “day-to-day” operations.
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Worldcoin recruits users by scanning their irises through its Orb, which assigns users an “iris code” or “World ID” that gives users access to the project’s application and provides them “a digital passport,” Tiago Sada, head of product for Tools for Humanity and a core contributor to Worldcoin, said in TechCrunch’s Chain Reaction Podcast in September. The verification process supposedly allows people to verify their identity, and the iris code is used to make sure they don’t go and get another one.
Last August, Worldcoin faced pushback from countries, including Kenya, which stopped the project from scanning any of its citizens’ eyeballs (and the project ignored earlier orders). Worldcoin has faced backlash from critics, who say the company is targeting developing economies. Given that the project gives most participants (outside the US and other countries) 25 WLD tokens, worth roughly $48, in exchange for signing up, that appears to be exploitative.
Sada said that giving free tokens and going to developing countries is fair because most projects, especially in crypto and tech, focus on developing markets, because ” that’s the easiest to use.”
While OpenAI said Friday that the board “no longer has confidence in (Altman’s) ability to continue to lead” the company, its statement did not fully explain why Altman was fired or where he stood with others. related organizations, such as Worldcoin.
The Worldcoin application has more than four million downloads and its active users “more than doubled” worldwide, according to a blog post from the beginning of November. There are more than 2.4 million “unique people” on Worldcoin and in the last seven days at the time of writing, about 53,800 new accounts have been created, and there are more than 59,000 daily wallet transactions, according to the company. website.