Sam Altman's appointment at Microsoft ushers rally in Worldcoin price
- Worldcoin price experienced volatility in response to Open AI’s former CEO, Sam Altman’s ouster from the firm and appointment at Microsoft.
- Altman will not return to OpenAI as a CEO, instead X users report the former executive could focus on a new AI venture.
- WLD price climbed to its local top of $2.71, early on Monday.
Sam Altman is the former CEO of American Artificial Intelligence firm, OpenAI, and the co-founder of the crypto project Worldcoin. The events at OpenAI and the leadership changes have influenced the price of the Worldcoin token, WLD. WLD price rallied to $2.71 on Monday.
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Worldcoin price fluctuates with Sam Altman’s ousting from OpenAI
Sam Altman, now ex-CEO of OpenAI, is associated with Tools for Humanity as a co-founder of the project. Tools for Humanity is the technology firm that developed Worldcoin. The WLD token launched in July 2023.
Worldcoin is a digital identity platform that aims to gather human retina scans to authenticate human users, amidst rapid progress in AI technology. The project uses orbs to gather retina scans from users and rewards them with WLD tokens in exchange for sharing the biometric information.
The Worldcoin project and OpenAI are unrelated, however Altman was the common link between the two firms and events at the latter, therefore, continue to influence WLD price.
While the news of Sam Altman’s exit as OpenAI CEO likely triggered WLD price decline to $2.04 on Sunday, the efforts of OpenAI executives to reinstate Altman as CEO, fueled a recovery. Microsoft CEO, Satya Nadella, announced that Altman alongside other former executives from the AI firm are joining Microsoft. At the time of writing, WLD token is trading at $2.51 on Binance.
The series of events at OpenAI have fueled the AI narrative, tokens like Fetch.ai (FET), SingularityNET (AGIX), and The Graph (GRT) yielded between 3% and 16% daily gains for holders.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
