Worldcoin Drops Double Digits as OpenAI Remove Co-Founder and CEO Sam Altman

OpenAI’s board of directors surprisingly announced leadership changes on Friday that included the immediate removal of Sam Altman, the co-founder and CEO of the company, from his position.

The news had a dramatic impact on WLD’s price movements, as the asset plummeted from $2.5 to under $2 in hours.

• The board of directors’ blog post from Friday reads that the firm’s chief technology officer – Mira Murati – will assume Altman’s position as an interim CEO “effective immediately.”

“A member of OpenAI’s leadership team for five years, Mira has played a critical role in OpenAI’s evolution into a global AI leader. She brings a unique skill set, understanding of the company’s values, operations, and business, and already leads the company’s research, product, and safety functions.”

• The post alleged that Altman was not consistent with his communication with the board, which “hindered its ability to exercise its responsibilities.” As such, the board concluded that they did not feel Altman was fit to run the company any longer.

“We believe new leadership is necessary as we move forward. As the leader of the company’s research, product, and safety functions, Mira is exceptionally qualified to step into the role of interim CEO. We have the utmost confidence in her ability to lead OpenAI during this transition period.”

• Shortly after the news went viral, Worldcoin – an initiative frequently promoted by Altman – nosedived. The already controversial project’s coin plummeted by double digits from a local peak of $2.5 to under $1.9.