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Tag: Worldcoin

  • World launches its ‘super app,’ including crypto pay and encrypted chat features | TechCrunch

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    World, the biometric ID verification project co-founded by Sam Altman, released the newest version of its app today, debuting several new features, including an encrypted chat integration and an expanded, Venmo-like capability for sending and requesting crypto. 

    World was created by the startup Tools for Humanity in 2019, and originally launched its app in 2023. The company says that, in a world roiled by AI-generated digital fakery, it hopes to create digital “proof of human” tools that can help separate the humans from the bots.

    During a small gathering at World’s headquarters in San Francisco on Thursday, Altman and World’s co-founder and CEO, Alex Blania, briefly introduced the new version of the app (which developers have termed a “super app”) before the product team took over to explain the new features. During his remarks, Altman said that the concept for World grew out of conversations he and Blania had had about the need to create a new kind of economic model. That model, based around web3 principles, is what World has been trying to accomplish through its verification network. “It’s really hard to both identify unique people and do that in a privacy-preserving way,” said Altman.

    World Chat, the app’s new messenger, seems designed to do just that. It uses end-to-end encryption to keep users’ conversations safe (this encryption is described as being equivalent to Signal, the privacy-focused messenger), and also leverages color-coded speech bubbles to alert users to whether the person they’re talking to has been verified by World’s system or not, the company said. The idea is to incentivize verification, giving people the power to know whether the person they’re talking to is who they say they are. Chat was originally launched in beta in March.

    The other big feature reveal on Thursday was an expanded digital payment system that allows app users to send and receive cryptocurrency. World app has functioned as a digital wallet for some time, but the newest version of the app includes broader capabilities. Using virtual bank accounts, users can also receive paychecks directly into World App and make deposits from their bank accounts, both of which can then be converted into crypto. You don’t have be verified by World’s authentication system to use these features.

    Tiago Sada, World’s chief product officer, told TechCrunch that part of the reason chat was added was to create a more interactive experience for users. “What we kept hearing from people is that they wanted a more social World app,” Sada said. World Chat is designed to fill that need, creating what Sada says is a secure way to communicate. “It took a lot of work to make this feature-rich messenger that is similar to a WhatsApp or a Telegram, but with encryption and security of something that is a lot closer to Signal,” Sada said.

    World (which was originally called Worldcoin) deploys a unique authentication process: interested humans get their eyes scanned at one of the company’s offices, where the Orb—a large verification device—converts the person’s iris into a unique and encrypted digital code. That code, the verified World ID, can then be used by the person to interact with World’s ecosystem of services, which are available through its app.

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    The addition of more social-friendly features is clearly meant to drive broader adoption of the app, which makes sense since scaling verification is the company’s main challenge. Altman has said that he would like the project to scan a billion people’s eyes, but Tools for Humanity claims to have scanned less than 20 million people.  

    Since standing in long lines at a corporate office to have your eyeballs scanned by a giant metallic ball may seem slightly less than enticing to some users, the company has already sought to make its verification process less cumbersome. In April, Tools for Humanity announced its Orb Minis—hand-held, phone-like devices—that allow users to scan their own eyes from the comfort of their homes. Blania previously told TechCrunch that, eventually, the company would like to turn the Orb Minis into a mobile point-of-sale device or sell its ID sensor tech to device manufacturers. If the company takes such steps, it would drop the barrier to verification significantly, potentially inspiring much more widespread adoption.

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    Lucas Ropek

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  • Nearly $1B in Token Unlocks This Week Puts Pressure on These Altcoins

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    Crypto markets are preparing for a wave of selling pressure as more than $998 million worth of token unlocks hit circulation between August 25 and August 31, according to data from Tokenomist.

    The largest scheduled releases include Sui (SUI), Optimism (OP), Jupiter (JUP), and Huma Finance (HUMA).

    Heavy Unlock Schedule

    The token activations consist of several one-off cliff unlocks totaling roughly $185 million per the Tokenomist website, as well as multiple linear unlocks, which will contribute a much larger $813 million.

    Sui tops the list with $161 million worth of tokens, representing 1.2% of supply, set to hit the market. It is followed by Slash Vision Labs (SVL), which will make available nearly 19% of its supply valued at more than $37 million.

    Other notable one-time unlocks include Jupiter’s $27.31 million, Optimism’s $24.30 million, and Kamino’s $13.97 million. Huma Finance, meanwhile, will add nearly $10 million worth of its native cryptocurrency, amounting to more than 21% of its supply, to circulation.

    Linear unlocks will stretch across several major assets. Filecoin alone will see more than $22 million worth of its FIL token released daily for a total of about $156.39 million over the week.

    Solana is also scheduled for significant unlocks, amounting to over $104 million, with each day seeing about $14.87 worth of new SOL hitting the market. Meanwhile, Dogecoin (DOGE) faces just over $3 million in new tokens each day.

    Elsewhere, Avalanche’s circulating supply will expand by about $2.5 million daily, and Worldcoin (WLD) will see close to $5 million in fresh tokens entering the market each day of this week.

    Market Outlook

    Investors may be particularly alert to the performance of HUMA, which set a new all-time low at $0.0254 today according to CoinGecko, down more than 78% from its May peak.

    Other unlock-bound tokens are also showing strain, with Sophon (SOPH) losing 9% in the last seven days, while Renzo (REZ) dropped almost 7% in the last 24 hours and was trading 95% below its 2024 high at the time of this writing.

    Solana is also in the spotlight. In a recent interview, BitMEX co-founder Arthur Hayes said he prefers to back Ethereum over SOL for the current cycle, suggesting ETH offers stronger upside potential. However, the asset has risen by more than 10% in the last week to just over $200, even though it shaved off 3.4% in the past day.

    Meanwhile, Dogecoin is showing mixed signals. The OG meme coin is trading near $0.23, down more than 4% in 24 hours, with analysts tracking a symmetrical triangle pattern forming on the charts. Support sits at $0.22 and resistance at $0.25, with a decisive move expected soon. One market watcher, Ali Martinez, suggested a DOGE rally toward $0.31 could follow a breakout, while failure to hold support risks a slide to $0.19.

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    Wayne Jones

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  • Worldcoin Gains Upside Momentum: Is A Major Breakout Ahead?

    Worldcoin Gains Upside Momentum: Is A Major Breakout Ahead?

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    My name is Godspower Owie, and I was born and brought up in Edo State, Nigeria. I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life.

    My parents are literally the backbone of my story. They’ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for anything else in this world.

    I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments.

    When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency.

    Trust me, I’ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that’s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets.

    My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies.

    Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people – people who make an impact in my life no matter how little it is.

    One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I’m so good at it. I am also very good at singing, dancing, acting, fashion and others.

    I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone’s life. I don’t chase illusions, I chase dreams.

    I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I’m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top.

    I aspire to be a boss someday, having people work under me just as I’ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.

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    Godspower Owie

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  • Worldcoin Drops 6% Amid Alameda Research 1.5M WLD Sell-off

    Worldcoin Drops 6% Amid Alameda Research 1.5M WLD Sell-off

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    Este artículo también está disponible en español.

    Worldcoin, the crypto project co-founded by OpenAI’s CEO Sam Altman, recently saw its token’s price drop over 6% following Alameda Research’s continued sales. Some analysts believe WLD’s price could continue to move sideways before recovering its bullish momentum.

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    Alameda Goes On A Worldcoin Sell-off

    On-chain data analysis firm SpotOnChain revealed that Alameda Research has sent part of its WLD holdings to crypto exchanges for the past two months. The report shared that, since early August, FTX’s sister company has transferred 1.56 million WLD tokens to Binance.

    The firm has sent around 143,770 WLD tokens, worth around $2.51 million, every week since August 9, selling the tokens in 10 batches at an average price of $1.6. The news came two days after US Bankruptcy Judge John Dorsey approved FTX’s repayment plan.

    The approval allows the crypto exchange to pay customers between $14.7 billion and $16.5 billion in recovered crypto assets. Alameda received around $8 billion of FTX users’ misappropriated funds, allegedly used for the fund’s trading operations.

    Some suggest that the sell-off is linked to FTX’s repayment plan, which is expected to start soon and could signify further selling pressure from the companies. Per SpotOnChain’s report, Alameda’s wallet holds 23.44 million WLD tokens worth around $43 million.

    At its current selling rate, it could take over three years to completely unload Alameda’s Worldcoin holdings. Additionally, other altcoins could face selling pressure from the company.

    The wallet holds $98.8 million in other cryptocurrencies, including 100.9 million Stargate Finance (STG), 1.78 million Mantle (MNT), and 98.86 million BitDAO (BIT), now MNT. The company’s BIT holdings, valued at $68 million, could start being sold in November, as the 3-year no-sale commitment with BitDAO ends.

    WLD Price Reacts To The News

    Following the sell-off report, Worldcoin saw a 6% dip in the daily timeframe. The token’s price dropped from the $1.98 mark to the $1.77 support zone in the last 24 hours, representing a 4.5% decline in WLD’s biweekly performance.

    The cryptocurrency registered a remarkable 31% weekly surge in late September after Worldcoin announced its expansion to three new countries. As reported by NewsBTC, the crypto project revealed it was bringing its World ID services to Guatemala, Poland, and Malaysia.

    The news, alongside the crypto market’s recovery, propelled the token’s price above the $2 mark, which was momentarily held. Since then, the token has struggled to reclaim the key support zone, hovering between $1.58-$2.03 levels for the past week.

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    Crypto analyst Yuiry from BikoTrading noted that WLD’s price retested the $1.5 crucial level after October 1’s drop, bouncing around 33% from this level. As the token continues trying to retest the $2 resistance level, the analyst expects it to move within its new $1.8-1.98 range for a few days before breaking above it.

    As of this writing, WLD is trading at $1.8, an 8.7% and 27.4% increase in the weekly and monthly timeframes.

    Worldcoin (WLD) performance in the weekly chart. Source: WLDUSDT on TradingView

    Featured Image from Unsplash.com, Chart from TradingView.com

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    Rubmar Garcia

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  • Worldcoin’s Biometric Data Collection Violates Privacy Laws: Hong Kong’s Regulator

    Worldcoin’s Biometric Data Collection Violates Privacy Laws: Hong Kong’s Regulator

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    The controversial Worldcoin project has faced yet another setback. Hong Kong’s privacy regulator, the Office of the Privacy Commissioner for Personal Data (PCPD), ordered the Worldcoin Foundation to halt all its operations in the region, citing that its practices violate local privacy regulations.

    The PCPD released a statement this week revealing that Worldcoin had collected facial and iris biometric data from at least 8,302 individuals during its Hong Kong operations.

    After conducting 10 covert inspections at six Worldcoin locations in December 2023 and January 2024, the agency determined that such extensive collection of biometric information was “unnecessary and excessive.” It added that such actions violated the principles of data protection under Hong Kong’s privacy laws.

    Verifying Humanness: A Conundrum

    Hong Kong’s PCPD pointed out that Worldcoin would retain personal data for a maximum of 10 years to train AI models for the user verification process, a period the agency believes would be “too long.” The PCPD also said that there are “less privacy-intrusive” alternatives to prove humanness.

    It is important to note that Hong Kong isn’t the only region that has objected to Worldcoin and its controversial iris-scanning orbs. In fact, the Sam Altman-headed project has encountered difficulties in multiple regions regarding its digital ID collection. In March, South Korea initiated an investigation following complaints about the project’s gathering of personal information. Similarly, Spain and Portugal have instructed the project to cease collecting users’ biometric data.

    Unlike privacy advocates who had, time and again, weighed in that Worldcoin is not a path to attain proof-of-personhood, Billy Luedtke, the Founder and  CEO of a decentralized identity startup ‘Intuition’ commended the project.

    While highlighting the growing importance of verifying if information comes from human sources amidst AI’s rapid advancements, Luedtke claimed that Worldcoin and other decentralized identity projects “are actively addressing the challenge, providing tools to help individuals assert their humanity in an online world where distinguishing human presence is growing more complex.”

    In a statement to CryptoPotato, the exec said,

    “While concerns around data privacy remain valid, the internet’s usability suffers due to an overflow of non-human activity, trust deficits, and fragmented identity landscapes. Encouraging dialogues between governments and industries, alongside innovations in privacy-preserving technologies like personal custody, offer hope for ongoing progress and innovation in this field.”

    What Does Hong Kong’s Rejection of Worldcoin Mean For Crypto?

    Jerry Li, Co-Founder and CEO of Artela Network, interprets Hong Kong’s halt on Worldcoin’s operations as indicative of its stringent and proactive stance on crypto regulation, particularly concerning data privacy and biometric data collection.

    This strict approach is likely to set a precedent in the APAC region, pushing other crypto projects to prioritize data privacy and adherence to local regulations, Li said in a statement to CryptoPotato.

    However, the exec said that this move doesn’t imply that Hong Kong is hostile towards cryptocurrencies.

    “Stopping Worldcoin’s operations doesn’t necessarily imply that Hong Kong is unfriendly towards cryptocurrencies. Although Hong Kong enforces strict data privacy regulations, it continues to support the crypto industry through clear regulations, government initiatives, robust financial infrastructure, and industry backing.”

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    Chayanika Deka

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  • Top cryptocurrencies to watch this week: BTC, ETH, WLD

    Top cryptocurrencies to watch this week: BTC, ETH, WLD

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    Top cryptocurrencies including Bitcoin (BTC) and Ethereum (ETH) propelled market cap growth by $270 billion within the last week. An 11.3% increase saw the sector’s market cap appreciate to $2.64 trillion. This commendable growth was also driven by a significant contribution from Worldcoin (WLD).

    BTC, ETH and WLD prices -March 10 | Source: Santiment

    BTC records new ATH

    The crypto market uptrend spilled into this week, allowing several assets to clinch new heights. Being the leading cryptocurrency, Bitcoin was not left out in this trend, as the token saw massive price upswings, primarily buoyed by growing demand from the spot Bitcoin ETF market.

    Data from K33 Research confirmed that, amid the sustained inflows these spot Bitcoin ETFs have recorded, they commanded over 300,000 BTC worth $17 billion as of March 4. The products saw $562 million in inflows on Monday. These inflows demonstrated massive demand from traditional investors seeking exposure to BTC.

    With this sustained demand, BTC rallied by over 8.5% on March 4 to clinch a high of $68,529. Despite the resistance at $68,529, Bitcoin held above the $68,000 level, looking to leverage it as a springboard for a push toward greater heights the next day.

    The asset eventually breached its previous ATH on March 5, surging to a new record high of $69,098. However, the resistance stationed at this price point triggered a massive retracement that saw BTC collapse below $60,000 for the first time since February.

    BTC recovered from this correction, and continued to reclaim the lost gains, eventually setting a new ATH as it crossed the pivotal $70,000 psychological threshold. The token saw a milder correction at this level, but currently holds above $69,000, changing hands at $69,461 at the reporting time.

    Amid the periodic upswing, Bitcoin surged 10% this week, adding $130 billion to its market cap. As the asset continues to exceed expectations, several bullish price projections emerged this week, with Bitget’s managing director Gracy Chen projecting a rise to $200,000.

    Ethereum breaches $4,000

    As spot ETH ETF discussions gained steam, QCP Capital analysts explored the possibility of Ethereum outperforming BTC in the escalating bull run. ETH closed March 6 above $3,800 amid a 7.46% rise as the gains mounted.

    March 8 also witnessed a series of price upswings, as Ethereum looked to record its third consecutive day in the green. The crypto asset breached the $4,000 mark for the first time since December 2021 on March 8 before facing a rejection.

    ETH is still flirting with the level, currently trading for $3,956.

    WLD hits new ATH above $11

    The Worldcoin project witnessed multiple regulatory setbacks this week, but its token WLD recorded an uptrend, soaring by over 24% this week. However, WLD’s start to the week was marked by price declines, as it dropped 6.86% on March 4 to $7.36.

    This collapse came amid reports of a potential probe into Worldcoin’s operations by the South Korean Personal Information Commission. WLD witnessed a steeper 12% decline on March 5 amid unique bearish sentiments and the broader crypto market retracement.

    However, WLD recovered the March 5 losses the next day despite the project’s ban in Spain. The token consolidated following a 13% rise on March 6 until reports of OpenAI’s new board members made headlines. 

    Notably, the firm disclosed the appointment of new board members in the late hours of March 8, indicating that CEO Sam Altman had joined the board. Responding to this report, WLD spiked 42% to new all-time highs above $11 on March 9. The asset closed the day with an impressive 55% gain.

    Despite facing a major correction today, WLD still trades above its previous highs, changing hands at $9.78 amid a 16% collapse today. Worldcoin is also up 33% this month, outperforming BTC, ETH and Solana (SOL).


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    Wahid Pessarlay

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  • Elon Musk vs. OpenAI lawsuit to drive Worldcoin price above $10?

    Elon Musk vs. OpenAI lawsuit to drive Worldcoin price above $10?

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    Between Feb. 25 and March 7, WLD prices dipped 40% from its $9.50 all-time high after Elon Musk filed a lawsuit against Worldcoin’s parent firm.

    Between bullish tailwinds from the NVIDIA-led Crypto AI renaissance and bearish headings from the legal battle between Elon Musk and OpenAI, Worldcoin price levers have been pulled in opposite directions since March 1. 

    On-chain data trends provide vital insights into how initial response among crypto whales and Worldcoin long-term investors could impact WLD short-term price action. 

    Worldcoin price initially dipped 40% after Elon Musk filed lawsuit

    On March 1, Elon Musk filed a lawsuit against Worldcoin’s parent company, OpenAI, for breach of fiduciary duty and claims of unfair business practices. The news effectively truncated a historic February rally for the Worldcoin’s native WLD token. 

    Worldcoin (WLD) Price action before and after Elon Musk Lawsuit | February – March 7, 2024. Source: TradingView

    WLD’s price soared 320% to an all-time high of $9.50 on Feb 25, which momentarily saw its market cap surpass the $1 billion mark. As news of Elon Musk’s lawsuit against OpenAI broke, it set off a panic yard sale, sending Worldcoin’s price spiraling 40% to a two-week low of $5.60 on March 5.  

    It has now been a week since Elon Musk’s lawsuit against OpenAI. The two major stakeholder blocs within any cryptocurrency network are long-term holders and whale investors. On-chain indicators show that both groups have taken on a bullish disposition on Worldcoin. 

    Crypto Whales continue investing in Worldcoin

    With one eye on the crypto AI, rave partly triggered by NVIDIA’s record-breaking 2023 fourth-quarter earnings and growing adoption of the controversial iris scanning orbs, risk-seeking Worldcoin whales have refused to throw in the towel. 

    The Santiment chart below depicts real-time changes in whale wallets holding 1 million to 10 million WLD balances. It shows that the week following Elon Musk’s lawsuit filing, the whales acquired another 720,000 WLD tokens between March 2 and March 7. 

    Worldcoin (WLD) Whales Wallet Balances
    Worldcoin (WLD) Whales Wallet Balances Source: Santiment

    Valued at the current price of $7.20 per token at press time on March 7, the newly acquired tokens are worth approximately $5.2 million. This shows that rather than exit, the whales have capitalized on the price dip to scoop up more tokens in anticipation of more significant future gains as the project develops. 

    Investors with a high-risk appetite often gravitate towards distressed coins, or crypto projects embroiled in regulatory or legal contests, in hopes of a big payday if the lawsuit yields a positive outcome.

    This whale cohort holds over 521.9 million WLD, representing 5.2% of Worldcoin’s 10 billion total circulation supply. On-chain buy/sell trends have historically been positively correlated to WLD price movements. If whales keep buying, WLD could avoid a dramatic price downswing as the lawsuit unfolds. 

    Worldcoin long-term investors are standing firm

    Furthermore, another critical on-chain indicator shows that Worldcoin long-term holders are refraining from selling their tokens amid the legal crisis. 

    Santiment’s age consumed metric tracks long-term investors’ trading activity by multiplying the number of recently-traded coins by the number of days since they were last moved. 

    Age-consumed figures rise when long-term investors and project insiders are on a selling spree, with many previously long-held coins on the move. 

    But interestingly, the on-chain trends observed on the Worldcoin network this week show that WLD Age Consumed has been in decline since Elon Musk’s lawsuit.

    Worldcoin (WLD) Age Consumed vs. Price
    Worldcoin (WLD) Age Consumed vs. Price | Source: Santiment

    Specifically, the 7.5 million coin days consumed on March 7 represents an 83% drop-off from the initial spike recorded on March 2. This metric shows that the Worldcoin long-term investors continue to show diamond hands despite the swirling controversy in the past week.  

    When it occurs during a period of heightened market fear, uncertainty, and doubt it could boost other investors’ confidence.

    How will Worldcoin price react to Elon Musk’s lawsuit?

    The early bullish reactions from Whales and long-term investors suggest they will likely prop up WLD prices in the near term. By continuing to HODL amid intense bearish headwinds from the legal battle between Elon Musk and OpenAI, these key stakeholders convey confidence in the long-term prospects and value of Worldcoin. 

    Unsurprisingly, rather than head into a downward spiral as initially feared, WLD price has now rebounded from its weekly low of $5.60 on March 5 to reclaim $7.20 territory at press time on March 7.

    This rare bullish conviction may stem from belief in the project’s fundamentals or a strategy to front-run massive gains if OpenAI experiences its own Ripple (XRP) breakout moment with a legal victory over Elon Musk.

    If the current dynamics persist as the lawsuit lingers, Worldcoin price could defy the odds and enter another leg-up towards $10.


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    Ibrahim Ajibade

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  • Worldcoin’s WLD Token Soars Over 180% to ATH as User Count Hits 1 Million

    Worldcoin’s WLD Token Soars Over 180% to ATH as User Count Hits 1 Million

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    The Worldcoin token, co-founded by OpenAI CEO Sam Altman, has experienced a significant increase of over 186% in the past week, aligning with the project’s daily user count exceeding a million.

    Despite rising controversial views on its methods and regulatory issues, the project has had major growth recently and has attracted a lot of users.

    Worldcoin’s World App Hits 1 Million Users

    On February 18, Worldcoin shared an update on X, revealing that its cryptocurrency wallet application, known as “World App,” has achieved a milestone by attracting more than a million users. Comparatively, there were just 100,000 daily active users in November last year.

    WLD, the Worldcoin utility token, has experienced a notable surge in both price and trading volume, as reported by CoinGecko data. Presently priced at $7.27, it has seen a significant increase of 39.1% in the last 24 hours and a remarkable 186.4% over the past seven days, taking it to a new all-time high.

    Concurrently, the trading volume has surged to $784,023,215, marking a 55.70% rise in the last day. Notably, the token’s growth has surpassed that of the entire crypto market, which has only grown by 6.3% in the last week.

    The project’s growth comes amid several developments that are making headlines. On February 16, OpenAI introduced Sora, a text-to-video generator that allows users to create video clips and scenes using text prompts, a major advancement in AI-generated content.

    A week before the Sora announcement, on February 9, Altman announced his plans to raise $7 trillion. The funds are intended to support and escalate the company’s efforts in semiconductor chip development, a critical area for advancing AI technologies.

    Controversy Surrounds Worldcoin

    Woldcoin, launched in July 2023 by OpenAI CEO Sam Altman and Alex Blania, is a “privacy-preserving” digital identity verification project. The unique approach involves compensating users with its native cryptocurrency in exchange for scanning their irises.

    The project aims to introduce worldwide Universal Basic Income (UBI) by distributing a modest amount of its native WLD token to everyone in exchange for identity verification. Despite its innovative approach to UBI, Worldcoin’s methodology, especially its use of biometric identity verification through metallic eye-scanning devices known as “Orbs,” has sparked considerable debate and concern.

    On January 31, the Office of the Privacy Commissioner for Personal Data (PCPD) in Hong Kong initiated an investigation into Worldcoin’s local operations, citing “serious risks to personal data privacy.” This investigation led to the execution of warrants and the inspection of six premises controlled by Worldcoin in Hong Kong.

    Worldcoin’s operations have also attracted attention from regulators in various jurisdictions outside of Hong Kong. The project’s services were completely suspended in Kenya, while iris scans were paused in India due to privacy concerns.

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    Wayne Jones

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  • Worldcoin (WLD) Gains By 10% Following Singapore Debut

    Worldcoin (WLD) Gains By 10% Following Singapore Debut

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    Worldcoin (WLD), the brainchild of OpenAI CEO Sam Altman, has experienced a significant level of positive traction in the past month. Notably, Worldcoin gained by over 50% in mid-December to attain an all-time high of $4.6. Although the token soon fell from these heights trading at $3.35 on December 25, it appears that WLD may be gathering momentum for another bullish breakout.

    Singapore Launch, Among Others Spurs Interest In Worldcoin

    According to data from CoinMarketCap, Worldcoin has gained by 9.68% in the last seven days, signifying a steady rise in buying pressure from investors in the WLD market. 

    Using data from IntoTheBlock, popular crypto analyst Ali Martinez has given more insight into this bullish trend. On December 30, he shared via X that the number of WLD whales in possession of 10,000 to 100,000 WLD rose by 16.33% in the last week. Interestingly, this price increase and network growth occurred a few days after Worldcoin announced its expansion into the crypto-friendly nation of Singapore. 

     

    In a blog post on December 27, the crypto project stated that it had successfully set up physical screening locations in the Asian nation allowing interested users to undergo the World ID verification process and join its growing network. 

    Beyond Singapore, Worldcoin also shared that it has registered an increased presence in several nations in the last month. These include Spain, Germany, Chile, and Japan. Notably, in Argentina, the crypto project recorded a national record of over 10,000 World ID verifications in a single day. Apparently, these multiple strides appear to have increased investor confidence in Worldcoin, as indicated in the price action stated above. 

    WLD Price Prediction

    Based on recent developments surrounding Worldcoin, the token seems poised for a major boost in adoption which could translate into a price rise over the next few weeks. Aside from its expansion into new nations, the launch of the World ID 2.0 in mid-December, which introduced integrations with various Apps such as Reddit, Shopify, and Telegram, is also regarded as a positive development by the project’s growing number of users. 

    Interestingly, Martinez predicts that WLD could soon experience an 80% rally based on chart indicators alone. If this projection proves true, the altcoin could trade as high as $6.30.

    However, despite all these indications, it must be noted that Worldcoin remains under heavy regulatory scrutiny in some nations due to privacy concerns in regard to user data.

    Worldcoin operations have been actively suspended in Kenya and are under investigation in Germany and the United Kingdom. In fact, the crypto project recently halted its orb verification service in Brazil, France, and India although citing a “limited time access” on the screening orbs provided in these markets.

    At the time of writing, WLD trades around $3.73 with a 3.90% gain on the last day. In tandem, The token’s daily trading volume increased by 83.12% and is valued at $197.52 million. 

    WLD trading at $3.75 on the daily chart | Source: WLDUSDT chart on Tradingview.com

    Featured image from iStock, chart from Tradingview

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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  • Worldcoin Enables Singapore Residents to Verify 'Humanness'

    Worldcoin Enables Singapore Residents to Verify 'Humanness'

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    After temporarily scaling back in India, Worldcoin has launched its services in Singapore. According to the latest announcement, individuals in Singapore will be able to verify their “unique humanness” at an Orb.

    The move follows the release of World ID 2.0 and the open-sourcing of the Worldcoin iris recognition pipeline in mid-December.

    Worldcoin’s Worldwide Expansion

    Apart from World ID verifications, Worldcoin revealed that Tools for Humanity (TFH), a contributor to the project, has joined two prominent startup and technology associations in Singapore: ACCESS and the Singapore Fintech Association (SFA). These project launches and association affiliations follow a recent tour across multiple cities in Asia conducted by members of the TFH product development team.

    Co-created by OpenAI CEO Sam Altman, Worldcoin is centered around identity verification and utilizes its Orb devices to scan individuals’ irises to confirm their humanity. The project rewards participants with WLD tokens when they sign up for the protocol.

    In addition to Singapore, the availability of World ID verifications has been steadily growing across various countries in the past month. The Worldcoin website indicated that verification locations were accessible in 11 nations.

    In Spain, Sevilla and Bilbao recently joined the expanding list of cities offering World ID verifications, which includes locations from Malaga to Mallorca to Madrid. Additionally, new launches in Cologne and Leipzig have increased the number of Orb locations in Germany to four, including Berlin and Nuremberg, as per Worldcoin’s official blog post.

    In South America, Chile has extended access to World ID verifications in Concepcion, Curico, Viña del Mar, and Santiago. Meanwhile, Argentina achieved a new national record with over 10,000 verifications daily.

    Across the Pacific in Japan, the city of Fukuoka on Kyushu Island has been added to the list of locations, along with new options in Tokyo, for conducting proof of personhood verification through World ID.

    As per TFH, more than five million accounts have been created so far, positioning it as the fifth most widely used hot wallet globally in 2023, alongside the Bitcoin.com wallet. On the other hand, the monthly active users of the World App have reached 1.7 million, and the total number of transactions conducted on the application has surpassed 30 million.

    Services Scaled Back in India, Brazil, and France

    Despite a series of expansions and partnerships, Worldcoin quietly halted operations in India and discontinued registration services in Brazil and France.

    The project later clarified that its activities in Brazil and France were intended as limited previews, with plans for a more substantial rollout in 2024.

    Simultaneously, Orb verification services in India were temporarily paused as the company works on implementing a customized, secure, and organized registration process in response to the high demand.

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  • Worldcoin's WLD Token Poised for 80% Surge, Bull Flag Emerges on 4-Hour Chart

    Worldcoin's WLD Token Poised for 80% Surge, Bull Flag Emerges on 4-Hour Chart

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    Worldcoin’s native token – WLD – surged by approximately 130% over the past year.

    The upward momentum proved short-lived, leading to profit-taking, and the rally appears to have come to a halt, with WLD witnessing a decline of around 20% from its peak of $4.68 within less than 10 days.

    Despite this downturn, data indicates the possibility of a massive rally soon.

    Worldcoin Targets $6.30 Rally

    According to popular crypto analyst Ali Martinez, Worldcoin is exhibiting signs of a breakout from a bull flag on its 4-hour chart. Should this be verified, it may open the door for the WLD token to begin an 80% surge, aiming for a target of $6.30.

    Worldcoin has been a source of controversy since its inception. Despite gaining global attention, it wasn’t until November that WLD began to gain traction.

    The token eventually reached its peak on December 18th at $4.68 during a broader market upturn. It has since retreated to $3.81.

    On the regulatory front, the journey has been less than smooth. As previously reported, Worldcoin quietly suspended its Orb-verification service in India, Brazil, and France shortly after expanding the eyeball-scanning device to those markets.

    This decision came despite Worldcoin’s efforts, such as opening pop-up kiosks in various parts of India to onboard new users, which drew crowds as people queued up to register and receive free tokens.

    Worldcoin: 2023

    Worldcoin has roped in prominent entities such as Andreessen Horowitz, Khosla Ventures, and Reid Hoffman as its backers. The project secured an initial funding of $25 million in October 2021. In less than a year, an additional $100 million was raised, pushing the token’s valuation to $3 billion.

    Worldcoin transitioned out of beta status on July 24, 2023, introducing 11 orb locations in the United States and outlining plans to expand to 35 cities across 20 countries.

    However, the formal launch of the WLD token did not take place in the US. In August 2023, Kenya, one of the initial countries where Worldcoin was introduced, suspended its enrollment in the program, citing concerns related to security, privacy, and financial matters.

    The iris biometric crypto project was developed by San Francisco- and Berlin-based Tools for Humanity. It uses a Proof-of-Personhood (PoP) mechanism that verifies an individual’s humanness and uniqueness. Experts, however, remain unconvinced with the concept.

    In an exclusive conversation with CryptoPotato, Bob Bodily, a blockchain specialist and the CEO of Toniq Labs, a web3 infrastructure company, emphasized that there are several more secure methods for confirming human identity, rendering the Worldcoin verification process outdated. He pointed out various flaws in the Worldcoin verification model, notably its high centralization, as users are restricted to validation through the official hardware exclusively developed by Worldcoin, thereby restricting accessibility.

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  • WorldCoin to raise $50m via discounted token sale

    WorldCoin to raise $50m via discounted token sale

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    The Worldcoin (WLD) cryptocurrency project is reportedly planning to secure up to $50 million via a discounted token sale.

    The project, co-founded by OpenAI’s Sam Altman, will offer WLD tokens at a suggested price of $1, according to BitKe. This presents a significant markdown from the current $2.51.

    Tools for Humanity, the principal developer firm behind Worldcoin, is overseeing the sale.

    Discounted token sale

    In October, Worldcoin faced suspension in Kenya as numerous individuals gathered at various locations to register and undergo eye scans in return for 25 WLD tokens, equivalent to approximately Ksh7,700 ($54.60) at that time. 

    The project came under scrutiny for allegedly collecting data from locals without proper licensing from authorities. Despite this, the program witnessed participation from over 2.5 million individuals globally.

    Tools For Humanity (TFH) has initiated discussions with investors to potentially raise additional funds through the sale of WLD tokens.

    Recent talks suggest TFH is exploring an over-the-counter sale of WLD, aiming to secure up to $50 million. The proposed token price is $1 for WLD, a considerable discount compared to the current spot price of $2.50.

    Worldcoin utilizes WLD as an incentive to drive user engagement in the protocol, rewarding individuals with tokens for undergoing eye scans. The token officially launched on July 24, 2023, with an initial eligibility of over 2 million people to receive their allocation.

    The project has unveiled plans to decentralize the network and introduced an inaugural grants program designed to support developers.

    In its latest funding round, a Series C investment totaling $115 million was led by Blockchain Capital, with additional support from FT Partners. TFH has notable investors, including a16z crypto, Bain Capital Crypto, Distributed Global, and Khosla Ventures.

    In earlier fundraising endeavors, investors participated in acquiring both equity in TFH and token warrants.

    The Worldcoin digital identity project 

    Worldcoin, under the helm of CEO Alex Blania, aims to establish an advanced digital identity system by utilizing biometric verification methods, such as facial and iris authentication.

    In development for three years, the project looks to assign a unique World ID to each user, employing a so-called ‘proof of personhood’ concept. This is expected to have significant economic implications as it becomes increasingly challenging to distinguish between humans and AI bots. 

    With $125 million raised since its 2019 inception, notable backers include Andreessen Horowitz, Khosla Ventures, and Reid Hoffman. 

    Despite facing flaws in data privacy and marketing practices, including allegations of collecting undisclosed personal data, the startup had secured $115 million in funding, boasting over two million unique World IDs.

    As outlined in a blog post on Dec. 6, the grants from Worldcoin will be distributed in WLD tokens, with 2 million coins designated across three tracks within the Worldcoin Tech Tree. 

    The first track, community grants, reserves up to 5,000 WLD for sponsorships, hackathons, and similar initiatives. Moving to the second track, project grants aim to back substantial projects with grants of up to 25,000 WLD.

    The “Wave0” program, a $5 million grant initiative, supports developers in creating resilient technology and equitable systems on the Worldcoin blockchain.

    These grants, distributed in WLD tokens, aim to empower innovative projects within the Worldcoin community, focusing on areas like privacy, biometrics, and applications leveraging World ID. Aligned with the “Worldcoin Tech Tree,” this initiative targets creators, technologists, and organizations contributing to the Worldcoin ecosystem’s growth.

    This may underscore Worldcoin’s commitment to a robust community addressing global challenges, raising awareness, and promoting technology’s role in combating issues like income inequality and governance.


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  • Amidst OpenAI chaos, Sam Altman’s involvement in Worldcoin is ‘not expected to change’ | TechCrunch

    Amidst OpenAI chaos, Sam Altman’s involvement in Worldcoin is ‘not expected to change’ | TechCrunch

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    Sam Altman may have been asked to leave OpenAI, but his involvement in crypto project Tools for Humanity, which is building Worldcoin, remains uninterrupted, a source close to the project told TechCrunch.

    Altman has “consistent and valuable” engagement with Tools for Humanity and “that is not expected to change,” the source said. The source added that Altman is still chairman and co-founder of the project, confirming that the information on the project’s website is up to date.

    News of Altman’s ouster sent the Worldcoin token, WLD, plummeting to a low of $1.84 on Saturday, but the token recovered over the weekend and is currently trading on par with previous levels at $2.40, per CoinMarketCap data.

    Worldcoin raised $115 million in May in a Series C round led by Blockchain Capital. As of March, Altman was on the project’s board, but was not involved in day-to-day operations.

    “Proof of personhood is becoming increasingly important in the rapidly advancing age of AI,” The Worldcoin Foundation told TechCrunch late on Monday. The team supporting Worldcoin is still focused on the project’s mission, “building a more human internet and a more accessible global economy through World ID, a privacy-enhancing way to verify humanness and uniqueness online,” the company said.

    Worldcoin is well-known for its controversial Orb hardware, which scans peoples’ irises and assigns them an ID that lets users access the Worldcoin’s application and a digital passport. The verification process is meant to prove individuals’ identities and stop anyone from making multiple accounts.

    The crypto project has faced pushback from some countries, especially Kenya, which banned Worldcoin from scanning any more of its citizens’ eyeballs on concerns that the company failed to inform users about the data security and privacy measures it had taken, and how the data collected would be used or processed.

    Worldcoin has also faced backlash from critics, who allege the company targets developing countries with laxer privacy rules. The project gives most participants (outside the U.S. and some other countries) 25 WLD tokens, worth roughly $58.5, in exchange for signing up, and that has spurred its critics to call it exploitative.

    That hasn’t stopped individuals from signing up. Since launching to the public 120 days ago, over 2.46 million people have signed up for Worldcoin, according to its website. Over the past seven days, more than 65,200 new accounts have been created and the project has averaged 137,000 wallet transactions daily.

    Tiago Sada, head of product for Tools for Humanity and a core contributor to Worldcoin, previously told me that focusing on developing countries and providing free tokens was “fair” because most tech projects focus on emerging markets first, given that they are the “easier ones to operate in.” And Altman should be around to help for the foreseeable future.

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    Jacquelyn Melinek

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  • Worldcoin (WLD) Crashes By 11% As OpenAI Pushes Out Sam Altman

    Worldcoin (WLD) Crashes By 11% As OpenAI Pushes Out Sam Altman

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    Worldcoin (WLD) experienced a sharp decline in its market price on Saturday after its founder, Sam Altman, was removed as the CEO of popular artificial intelligence company OpenAI. This development follows the heavy regulatory scrutiny on the crypto project due to privacy concerns.

    OpenAI Votes Out Sam Altman, Cites Loss Of Confidence

    In a shocking development on Friday, OpenAI announced a leadership change, stating that Sam Altman will immediately exit the company as its CEO. 

    In this statement, the company expressed its gratitude to Altman for contributing immensely to their development during his four-year tenure as their global leader. 

    However, after an intense review process by the board of directors, it was concluded that the Worldcoin founder had not been fully honest in his exchanges with the board, leading to a loss of confidence in his ability to continue his duties as CEO.

    Following Altman’s departure, Mira Murati, OpenAI’s chief technology officer, will now act as interim CEO pending the appointment of a permanent successor.

    However, as one could expect, Altman’s removal as OpenAI CEO, combined with the scathing statements in the company’s announcement, has created a negative sentiment around the Worldcoin project. 

    According to data from CoinMarketCap, WLD is currently down by 12.75% over the last 24 hours. Meanwhile, the token’s daily trading volume has managed to remain afloat with a 15.13% gain.

    What Next For Worldcoin? 

    Worldcoin was officially launched in July with the goal of creating the largest digital identity and financial network. The project relies on the use of iris-scanning orbs to physically admit new members, prompting concerns about privacy, anonymity, and user data protection.

    After Altman’s departure from OpenAI, there are currently speculations on Worldcoin’s future trajectory. Clearly, Worldcoin benefited from Altman’s visibility as OpenAI’s CEO, as reflected in the token’s current downtrend.

    Notably, WLD gained by over 25% in October, with many analysts citing anticipation of the OpenAI developer conference in November as the driving force. 

    Therefore, the removal of Altman from OpenAI may not bode well for Worldcoin in terms of credibility and public investor sentiments. On the other hand, Worldcoin could soon recover from its market slump and rise to higher heights despite this new challenge. 

    Following its public official launch in July, Worldcoin came under much criticism from global regulators who expressed concerns over operations in regard to the collection of data using iris scanning orbs and the potential applications of user data. 

    Notably, Worldcoin has been suspended from Kenya, while the governments of the United Kingdom and Germany have opened investigations into the project’s operation. 

    However, the crypto project has remained resilient despite these regulatory hurdles, marking a milestone of 4 million app downloads and 1 million monthly active users, as reported earlier in November.

    At the time of writing, WLD trades at $1.85, with a 0.86% decline in the last hour. Meanwhile, the token’s market cap stands valued at $211.37 million.

    WLD trading at $1.874 on the daily chart | Source: WLDUSDT chart on Tradingview.com

    Featured image from The Independent, chart from Tradingview

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    Semilore Faleti

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  • Worldcoin’s future remains uncertain after Sam Altman fired from OpenAI | TechCrunch

    Worldcoin’s future remains uncertain after Sam Altman fired from OpenAI | TechCrunch

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    Sam Altman, the now former CEO of OpenAI, has departed his role and is leaving its board, according to a company post on Friday. But questions about his role at other entities like Worldcoin, the crypto project he co-founded, remain up in the air as its token falls on the news.

    Worldcoin’s token, WLD, fell more than 13% on the day, to $1.91, CoinMarketCap data showed. When asked about Altman’s future at Worldcoin or its plans going forward, Worldcoin did not respond to TechCrunch’s request for comment.

    Altman’s crypto project raised $115 million in May in a Series C round led by Blockchain Capital. In March, TechCrunch reported Altman was on the board of Worldcoin, but is not involved in the “day-to-day” operations.

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    Do you work at OpenAI or Worldcoin and know more? Get in touch.

    Worldcoin obtains users by scanning irises through its Orb, which then assigns users an “iris code” or “World ID” that grants users access to the projects’ application and provides them with “a digital passport,” Tiago Sada, head of product for Tools for Humanity and a core contributor to Worldcoin, said on TechCrunch’s Chain Reaction podcast in September. The verification process purportedly allows people to prove their identity, and the iris code is used to make sure they don’t go and get another one.

    In August, Worldcoin faced pushback from countries, including Kenya, which halted the project from scanning any more of its citizens’ eyeballs (and the project ignored initial orders). Worldcoin has faced backlash from critics, who allege the company targets developing economies. The project gives most participants (outside the U.S. and some other countries) 25 WLD tokens, worth roughly $48, in exchange for signing up, which could be seen as exploitative.

    Sada said that giving out the free tokens and going to developing countries was fair because most projects, especially in crypto and tech, focus on emerging markets, as “those are the easier ones to operate in.”

    While OpenAI stated Friday that the board “no longer has confidence in [Altman’s] ability to continue leading” the company, its statement didn’t fully explain why Altman was fired or where he stands with other related organizations, like Worldcoin.

    Worldcoin’s application has over four million downloads and its active users are “more than double” globally, according to a blog post from the beginning of November. There are more than 2.4 million “unique humans” on Worldcoin and in the most recent seven days at the time of writing, about 53,800 new accounts have been made, and there have been over 59,000 daily wallet transactions, according to the company’s website.

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    Jacquelyn Melinek

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