CoinDesk Analysis Team
CoinDesk
Worldcoin’s (WLD) token fell in European morning hours on Friday after a report of a lawsuit against related company OpenAI emerged.
WLD dropped 2.2% in an hour as Reuters reported technology investor Elon Musk, the owner of social-media platform X (formerly Twitter) had sued OpenAI and CEO Sam Altman for breach of contract, as per a Thursday filing. Musk accused them of breaching contractual agreements made when he helped found the company in 2015. Altman and Musk served as co-chairs at the time.
Altman is also a board member and co-creator of Worldcoin. The controversial project aims to scan everyone’s eyes in exchange for a digital ID and tokens. WLD was recently 1.76% lower over 24 hours while the CD20, a gauge of the wider crypto market, had lost 0.57%.
In January 2023, Microsoft (MSFT) said it was making a "multiyear, multibillion dollar investment" into the company to "accelerate AI breakthroughs to ensure these benefits are broadly shared with the world." The software giant does not own a stake in OpenAI, Reuters reported in December.
The lawsuit says it aims to ensure the company does not develop technology aimed at benefiting specific people or companies, but to stick with its founding vision of benefiting all of humanity, the Financial Times reported.
In the past year, AI tokens have tended to move when there are developments in the broader artificial intelligence industry. In February, several AI tokens rallied after chipmaker Nvidia beat fourth-quarter earnings estimates and OpenAI released a new text-to-video product.
All writers’ opinions are their own and do not constitute financial advice in any way whatsoever. Nothing published by CoinDesk constitutes an investment recommendation, nor should any data or Content published by CoinDesk be relied upon for any investment activities. CoinDesk strongly recommends that you perform your own independent research and/or speak with a qualified investment professional before making any financial decisions.
Recommended Content
Editors’ Picks
Chainlink social dominance hits six-month peak as LINK extends gains
-637336005550289133_XtraSmall.jpg)
Chainlink social dominance surged to a six-month peak on Friday as LINK holders increased their activity. LINK traders started taking profits, on-chain data trackers show. LINK price added 6% on Friday, extending its gains from mid-week.
Binance helps Taiwan crack a virtual asset money laundering case, BNB sustains above $570
Binance’s Financial Crimes Compliance (FCC) department joined forces with Taiwan’s Ministry of Justice and helped resolve a case of money laundering worth NT$200 million, or $6.2 million.
Bitcoin Weekly Forecast: Is BTC out of the woods? Premium
Bitcoin price shows signs of continuing its uptrend, providing a buying opportunity between $64,580 to $63,095. On-chain metrics forecast a bullish outlook for BTC ahead. If BTC clears $70,000, the chances of resuming the uptrend would skyrocket.
XRP trades steady at $0.50 as Ripple shares plan to expand services in Africa
Ripple hovers close to $0.51 on Friday, above the psychologically important $0.50 level, as traders await the court ruling of the lawsuit against the US Securities and Exchange Commission and amid new commitments from the firm to expand its services in Africa.
Bitcoin: Is BTC out of the woods? Premium
Bitcoin (BTC) price action in the past two days has confirmed the resumption of the bull run. However, BTC needs to clear a few key hurdles before investors can go all-in.