Worldcoin bottoms out as Elon Musk drops lawsuit against OpenAI
- Elon Musk unexpectedly withdraws his legal case against OpenAI, Sam Altman, and Greg Brockman.
- Musk’s lawsuit has been dropped without prejudice, meaning Tesla CEO could activate the case at a later stage.
- Worldcoin posted nearly 20% losses in the past seven days, but the AI token eyes a recovery on Wednesday.
Worldcoin (WLD), the native token of the digital identity network, eyes a recovery on Wednesday after wiping out nearly 20% of its value in the last seven days. The AI token’s recovery comes at a time when Tesla CEO Elon Musk withdrew his lawsuit against OpenAI and executives Sam Altman and Greg Brockman, per a Reuters report.
Musk had alleged that the AI firm diverged from its original non-profit mission. The lawsuit was withdrawn without prejudice, one day prior to a hearing. This implies the Tesla chief can activate the lawsuit at a later date.
Musk unexpectedly withdraws lawsuit against OpenAI
Musk slammed OpenAI’s partnership with Apple on Tuesday. After his recent comments, the Tesla chief withdrew his lawsuit against the tech firm and its executives Sam Altman and Greg Brockman.
The lawsuit alleged that Sam Altman and Greg Brockman approached Musk for an open source, non-profit company in 2015, however, OpenAI is now focused on making money and has turned “for-profit.” Musk took issue with OpenAI’s pivot and engaged in a legal battle with the firm.
Musk’s attorneys asked the California state court to dismiss the lawsuit without prejudice or a reason for the move, per a San Francisco filing. Reuters reported that a hearing was scheduled for Wednesday, and Musk can reactivate his lawsuit at a later date since it is being withdrawn without prejudice.
Worldcoin extended losses by 20% in the past seven days, eyes recovery
Sam Altman heads the digital identity project Worldcoin. The project’s native token has wiped out nearly 20% of its value in the past seven days. WLD eyes recovery on the back of the recent developments related to Sam Altman-led OpenAI and the firm’s partnership with Apple.
With Musk dropping his lawsuit against OpenAI, and the latter’s partnership with Apple, things are looking up for the tech firm.
At the time of writing, WLD price is $3.868 on Binance, raising nearly 2% on Wednesday.
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.
