Worldcoin (WLD) Price Drops 12% After Sam Altman's CEO Dismissal from OpenAI
Worldcoin's token WLD has seen a significant decline following the removal of key figure Sam Altman from his CEO position at OpenAI.
Sam Altman eye-scanning with Worldcoin's Orb device (WLD). Photo: Twitter Sam Altman
OpenAI, a leading artificial intelligence (AI) company, announced on November 17 (U.S. time) that CEO Sam Altman has been dismissed and removed from the board of directors.
OpenAI announces leadership transition https://t.co/fFYDLwGXQz
— OpenAI (@OpenAI) November 17, 2023
The reason cited by OpenAI was that "Mr. Sam Altman had been dishonest in reporting to the company's board, obstructing the board's task." Consequently, the board "no longer has confidence in Mr. Sam Altman's ability to continue leading OpenAI."
OpenAI will appoint Chief Technology Officer Mira Murati as interim CEO and is currently searching for a permanent replacement for Mr. Altman.
Furthermore, Greg Brockman, the chairman of the board and co-founder of OpenAI, has also been dismissed, although he will continue to work under Mr. Murati.
i loved my time at openai. it was transformative for me personally, and hopefully the world a little bit. most of all i loved working with such talented people.
— Sam Altman (@sama) November 17, 2023
will have more to say about what’s next later.
🫡
On Twitter, Sam Altman had this to say about the situation:
"I have loved my time working at OpenAI. It has changed me personally and hopefully the world. What I have valued most is the opportunity to work with talented people here.
I will share my future plans soon."
Greg Brockman also announced his resignation following Mr. Altman's post.
The tech community is abuzz with speculation about the unexpected executive shake-up at OpenAI, especially since the new CEO had just appeared at OpenAI's DevDay event in early November, unveiling the company's latest products and developments.
After learning today’s news, this is the message I sent to the OpenAI team: https://t.co/NMnG16yFmm pic.twitter.com/8x39P0ejOM
— Greg Brockman (@gdb) November 18, 2023
Sam Altman has been an early investor in OpenAI alongside Elon Musk, supporting the company from its inception with a vision for advancing artificial intelligence, leading to successful AI tools such as DALL-E and ChatGPT, which have set trends in AI.
With OpenAI achieving remarkable breakthroughs in a short period, the company became Silicon Valley's brightest star last year, even securing a $10 billion direct investment from Microsoft.
Following the news of Sam Altman's dismissal from OpenAI, the price of Worldcoin's token WLD, a project involving retina-scanning for cryptocurrency transactions founded by Altman, has plummeted by more than 12% in recent hours.
Chart of WLD/USDT pair on Binance at 08:25 AM on November 18, 2023
In mid-2023, Worldcoin raised $115 million in funding and launched the WLD token. However, the project has faced ongoing legal hurdles in multiple countries due to concerns over privacy infringement.
