TL;DR
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Just this past July, Altman launched a Worldcoin Token (WLD), an Ethereum-based token that is considered a ‘biometric’ cryptocurrency project.
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On news of Altman’s firing from OpenAI, as of Friday at 4:30 p.m. EST, WLD dropped 14% in price, was trading for $1.86, and saw over $141M in trading volume in a 24-hour period.
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What’s even crazier is: now that there are rumors Altman may come back, WLD is up 22.6% in the last 24 hours.
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If the success of a business (or crypto token) hinges on one person’s involvement – that puts the whole operation at a greater risk.
Full Story
Founders being ousted as CEO by their own board –
Ah, a story as old as time.
Elon Musk was fired from PayPal.
Jack Dorsey was fired from Twitter.
Sam Altman was fired from OpenAI
This is looking like a pattern…
So, what’s the big deal about Altmans break up with OpenAI?
It is affecting crypto. And that, our friends, is news.
Wait, what…
What does Sam Altman have to do with my crypto assets?
Sam Altman is the Founder of OpenAI (think ChatGPT), and more recently, Worldcoin.
Just this past July, Altman launched a Worldcoin Token (WLD), an Ethereum-based token that is considered a ‘biometric’ cryptocurrency project.
The project’s mission is to counteract bots and fake identities, in a world where AIs can mimic human behavior better than automated systems can detect them.
Users join the network by scanning their iris with an orb-shaped scanner and receive Worldcoin in exchange.
On news of Altman’s firing from OpenAI, as of Friday at 4:30 p.m. EST, WLD dropped 14% in price, was trading for $1.86, and saw over $141M in trading volume in a 24-hour period.
What’s even crazier is: now that there are rumors Altman may come back, WLD is up 22.6% in the last 24 hours.
If nothing else, this acts as a good example of ‘key man risk.’
If the success of a business (or crypto token) hinges on one person’s involvement – that puts the whole operation at a greater risk.
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