Just a Month After Launch, Sam Altman’s Worldcoin Is Already Dying

The price of Worldcoin's WLD token has dropped by 44% in the past 30 days, following its launch in July, with further declines expected, undermining the appeal of the biometric investment.

gizmodo.com

Relevant topic timeline:

7/26/2023

How Sam Altman’s Worldcoin Engineered Its Token Launch

- Worldcoin, the controversial crypto startup, has distributed 43 million worldcoins to users who signed up during the pre-launch period. - However, the majority of the tokens distributed in the launch are being loaned to market makers, who are trading firms that buy and sell large amounts of tokens. - These market makers will help promote trading of Worldcoin's new tokens and make money on the spread. - The move to involve market makers in the token launch highlights Worldcoin's efforts to create liquidity and increase trading activity. - This aspect of Worldcoin's token launch has been overlooked amidst the controversy surrounding the company's use of eyeball scanning technology.

8/2/2023

Kenya suspends Worldcoin scans over security, privacy and financial concerns

Main topic: Kenya suspends Worldcoin enrollment and expresses concerns about its activities and data protection. Key points: 1. Kenya was one of the first countries to launch sign-ups for Worldcoin. 2. The Ministry of the Interior has suspended Worldcoin enrollment, citing concerns about authenticity, legality, security, financial services, and data protection. 3. Kenya had numerous venues for Worldcoin enrollment, but now there is only one due to overwhelming turnout. 4. Relevant agencies are investigating the authenticity, legality, and data protection of Worldcoin's activities. 5. Worldcoin is co-founded by OpenAI CEO Sam Altman and has raised over $500 million. 6. Worldcoin registers "verified humans" through eye scans and offers free crypto tokens in exchange. 7. The suspension order's impact on the circulation and trading of Worldcoin tokens in Kenya is unclear. 8. Worldcoin tokens have become part of the grey market in Kenya. 9. The authorities are now considering the privacy, security, and financial transaction implications of Worldcoin. 10. The suspension follows an assessment by the country's office of the Data Commissioner. 11. Concerns have been raised about Worldcoin's practices and exploitation of economically-disadvantaged people. 12. Worldcoin has enrolled over half a million people in the last seven days and nearly one million in the last month.

8/28/2023

Bitcoin Slumps Under $26K as Bearish Outlook Engulfs Crypto Market

Bitcoin (BTC) dropped below $26,000 as bearish sentiment and lack of new catalysts weighed on the market, with major tokens like XRP, ADA, and SOL also experiencing a downtrend, while traditional markets saw gains.

9/1/2023

Bitcoin, Ethereum Drop After SEC Delays ETF Decision - Decrypt

Bitcoin's price dropped below $26,000 as the approval of a Bitcoin ETF was further delayed by the SEC, reversing the bullish gains from the Grayscale court decision earlier in the week. The crypto market also experienced a decline, with Ethereum's price going down by 3.5% and the overall market cap losing $11.2 billion. However, Maker and Toncoin managed to resist the bearish trend with positive gains. The global macroeconomic landscape also added to the uncertainty, as key economic data raised doubts about a potential interest rate hike.

9/5/2023

Bitcoin Plumbs 6-Month Low Near $25K and Higher Oil Prices Suggest Further Pressure

The price of bitcoin fell nearly 1% in the past 24 hours to below $25,700, following a surge last week after Grayscale's court victory, while the announcement of extended oil production cuts by Saudi Arabia and Russia could be bearish for bitcoin prices. However, Solana's SOL token saw a 3.7% increase after Visa's announcement of expanding its stablecoin settlement capabilities with Circle's USDC stablecoin to the Solana blockchain.

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Posted 8/25/2023, 6:55:00 PM