Worldcoin Faces Uncertainty as Co-Founder Sam Altman Departs OpenAI
Sam Altman, the former CEO of OpenAI, was abruptly removed from his position and exited its board on November 17, according to an official announcement. The sudden leadership shakeup has raised questions about Altman’s involvement in Worldcoin, the cryptocurrency project he co-founded—prompting a sharp decline in its token value.
Market Reaction: WLD Token Drops 13%
- Price plunge: Worldcoin’s native token (WLD) fell over 13% to $1.91 following the news, per CoinMarketCap data.
- Leadership ambiguity: Worldcoin declined to comment on Altman’s future role or operational plans when contacted by TechCrunch.
Background: Altman’s Ties to Worldcoin
- Funding milestone: The project secured $115 million in a May 2023 Series C round led by Blockchain Capital (TechCrunch report).
- Limited involvement: Though Altman sat on Worldcoin’s board, he was not engaged in daily operations (March 2023 coverage).
How Worldcoin Works: Iris Scans and Digital IDs
Worldcoin’s controversial user onboarding relies on iris-scanning “Orbs” to assign unique “World IDs.” Tiago Sada, Head of Product at Tools for Humanity (a core Worldcoin contributor), explained the process on TechCrunch’s Chain Reaction podcast:
- Verification system: Scans generate an “iris code” to prevent duplicate accounts.
- Incentive model: Users in eligible countries receive 25 WLD tokens (≈$48) for signing up—a practice criticized for targeting developing economies.
Regulatory and Ethical Challenges
- Kenyan suspension: Authorities halted iris scans in August 2023 over privacy concerns (TechCrunch report).
- Emerging-market focus: Sada defended the strategy, arguing crypto projects often prioritize regions with “easier” operational landscapes.
Current Adoption Metrics
Despite backlash, Worldcoin reports growing traction:
- 4M+ app downloads globally (November 2023 blog post).
- 2.4M+ verified users, with ~53,800 new accounts weekly (live dashboard).
- 59,000+ daily wallet transactions.
OpenAI’s Vague Stance
OpenAI’s statement cited lost confidence in Altman’s leadership but omitted specifics—leaving his affiliations with projects like Worldcoin unresolved.
Related: Worldcoin’s Emerging-Market Strategy Draws Criticism
For insider insights, contact TechCrunch at [email protected].
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