Worldcoin’s valuation has shown a robust recovery from a recent slump, with the price rallying as Sam Altman continues in his role as chairman of Tools for Humanity, the developer behind the cryptocurrency.
Worldcoin (WLD) has made a significant comeback, seeing its trading price reaching $2.42, according to CoinMarketCap. This represents a notable increase of 16.66% over the past 24 hours.
Sam Altman, the former CEO of ChatGPT’s developer OpenAI, was announced to depart the company on Nov. 17. Following the initial announcement, WLD experienced a dip in price, trading at as low as $1.83, marking a 45% from WLD’s all-time high of $3.30, which was reached when Worldcoin emerged from beta in July.
Altman was abruptly removed from his position at OpenAI due to his alleged lack of candid communication. “Mr. Altman’s departure follows a deliberative review process by the board, which concluded that he was not consistently candid in his communications with the board, hindering its ability to exercise its responsibilities,” said the company.
Altman co-founded Worldcoin with Max Novendstern and Alex Blania in 2019. According to Tools for Humanity’s website, Altman remains as Chairman.
There have been speculations of various sources suggesting a potential comeback of Altman. According to The Verge, a source close to Altman said that “the board had agreed in principle to resign and to allow Altman and Brockman to return.” Followed by The Information’s report of OpenAI Chief Strategy Officer Jason Kwon telling employees that “the company is ‘optimistic’ about Altman returning.”
As a result, Altman’s the secured position at Tools for Humanity and the rumors of him returning as OpenAI CEO stabilized the price of WLD.
However, its valuationRead more on cryptonews.com