Crypto News

World Coin ($WLD) Takes Major Price Decline Hit As OpenAI Co-Founder Sam Altman Steps Down

The value of the $WLD token from the Worldcoin project is currently facing a major setback following the resignation of Sam Altman. Notably, Sam Altman is one of the co-founders of OpenAI. Interestingly, the value decline in $WLD came after an official announcement from OpenAI’s board of directors.

Notably, the announcement disclosed Sam Altman’s decision to step down from office. This will result in Chief Technology Officer Mira Murati stepping into the role of interim CEO to guide OpenAI through this transition period. As expected, there are concerns about communication transparency and uncertainties surrounding Altman’s leadership. Of course, this resulted in the board making this decision for leadership transition.

Notably, Mira Murati is also a key figure in OpenAI’s leadership for the past five years and has been instrumental in the organization’s journey to becoming a global AI leader. She has an extensive experience, deep understanding of company values, and leadership in research, product, and safety functions. So, these qualities made her have been deemed uniquely qualified for the interim CEO role. The board expects a smooth transition under her guidance. This will happen as the board will now proceed with the search initiative for a permanent CEO.

$WLD Price And Whale Actions Following This Unexpected Announcement

As expected, in response to these developments, the $WLD token is currently experiencing a significant dip from $2.06 to $1.84 in recent hours.

Notably, adding to the complexity, some significant players in the crypto world, often referred to as “whales,” made noteworthy moves. According to data from Lookonchain analytics firm, this whale made a deposit of 2 million $WLD ($4.66 million) to Binance. There would have been a realized profit of approximately $1.76 million if sold. 

Also, in a prior transaction on October 19, the same whale had made a withdrawal of 6 million $WLD ($8.7 million) from Binance and OKX when the price stood at $1.45. So, it currently holds 4 million $WLD ($9.3 million) as it’s now facing a decision on whether to continue holding or sell. Of course, given an unrealized profit of 3.5 million is on his account now.

Lastly, these developments are of course raising discussions within the crypto community about the future movements of $WLD. Also, not forgetting, the potential implications of Altman’s departure on the Worldcoin project.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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