Altman suffered huge losses after being fired from OpenAI, WorldCoins crypto token fell 12%

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San Francisco. The token of WorldCoin, the crypto project co-founded by Sam Altman, who was fired as OpenAI CEO, crashed on Saturday.

The token, called WLD, fell more than 12 percent to $1.91, according to Coin Market Cap data.

Altman’s crypto project raised $115 million in a Series C round led by Blockchain Capital in May.

In July, Altman launched the eyeball-scanning cryptocurrency startup ‘WorldCoin’ to help create a trusted solution from online AI, enabling global democratic processes and vastly increasing economic opportunity.

Altman said, “If successful, we believe WorldCoin can greatly enhance economic opportunities, scale a trusted solution to separate humans from AI online while maintaining privacy, and enable global democratic processes.” “Could do that, and ultimately show a potential path to an AI-funded UBI.”

WorldCoin consists of a privacy-preserving digital identity (World ID) and is a digital currency (WLD) only to be acquired.

WorldCoin’s application has more than four million downloads and its active users have “more than doubled” globally.

Meanwhile, Altman was removed as CEO of OpenAI, developer of AI chatbot ChatGPIT, and the company’s board said late Friday that it no longer had confidence in his ability to continue leading OpenAI.

Late Friday night he was no longer confident in his ability to continue leading OpenAI.

The Board conducted a thoughtful review process following Altman’s sudden departure, which concluded that he was not consistently forthright in his communications with the Board, which was hindering his ability to fulfill his responsibilities.

Chief Technology Officer Mira Murati will be interim CEO with immediate effect while the company searches for a permanent CEO successor.

–IANS