🚨Sam Altman removed as CEO of Worldcoin by the board.

🟠WLD is 14% down after the news.

In a surprising turn of events, Sam Altman's departure from OpenAI has sent shockwaves through the crypto world. The associated WLD token, tied to Worldcoin's iris-scanning biometric project, plummeted 14% following the announcement. Altman's ousting from OpenAI was due to a lack of transparent communication, eroding confidence in his leadership.

As of 4:30 p.m. ET on Friday, Worldcoin is trading at $1.89 per token, marking a 42% drop from its all-time high. The project, founded by Altman in 2019, aims to authenticate human identity online through its World ID mechanism, utilizing iris scans and distributing Worldcoin as a form of universal basic income.

However, the project faced criticism, with claims of deceptive practices and worker exploitation. Despite launching out of beta in July 2023, several governments, including Kenya, the U.K., Germany, and France, have expressed concerns about privacy and security, complicating Worldcoin's global expansion.

The market volatility reflects the sensitivity of crypto to leadership changes and regulatory challenges. Stay tuned for further updates on this evolving story. #Worldcoin #crypto2023 #Wld #Blockchain #BTC