Worldcoin price drops 6% after Sam Altman unseated as OpenAI CEO

Quick Take

Worldcoin’s WLD token fell around 6% immediately after news of Sam Altman’s departure as CEO of OpenAI.
The token fell over 12% in the last 24 hours, according to The Block’s Price Page.

The price of the token belonging to Worldcoin, the cryptocurrency project co-founded by former OpenAI CEO Sam Altman, fell 6% following news that Altman has been removed as CEO from OpenAI.

WLD traded hands at $2.03 at around 3:30 p.m. ET. However, the coin fell to $1.91 — a 6% decrease — after news of Altman's removal from the role at around 4:15 p.m. ET. The coin dropped 12.83% over the last 24 hours, according to The Block's Price Page.

Worldcoin's WLD price performance within the last 24 hours. Image: The Block's Price Page

OpenAI announced that Altman would no longer serve as the firm's CEO or on its board of directors after he was allegedly dishonest in 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. The board no longer has confidence in his ability to continue leading OpenAI," the firm wrote in an official release.

Worldcoin is a cryptocurrency project that pays people in a cryptocurrency called WLD for scanning their retinas at orbs, with the ultimate goal of building a large-scale identity and financial public network.

Worldcoin did not immediately respond to The Block's inquiry as to whether Sam Altman is still at the organization.