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Home»ADOPTION NEWS»Worldcoin token falls 5% after Elon Musk files lawsuit against OpenAI.
ADOPTION NEWS

Worldcoin token falls 5% after Elon Musk files lawsuit against OpenAI.

By Crypto FlexsMarch 1, 20242 Mins Read
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Worldcoin token falls 5% after Elon Musk files lawsuit against OpenAI.
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Posted 1 minute ago In ~

World Coin Price world

-2.03%
token It fell about 5% in the last 24 hours following news that Elon Musk is suing OpenAI and its CEO Sam Altman (who co-founded Worldcoin and remains a board member) for allegedly violating an agreement signed in 2015. .

Musk, the enigmatic leader of Tesla and SpaceX, co-founded OpenAI in 2015 before stepping down from its board in 2018.

The lawsuit filed in San Francisco claims that OpenAI’s profit-oriented focus violated the aforementioned contractual agreement because of its efforts to keep GPT-4’s design a “complete secret,” Reuters reported.

Worldcoin’s WLD token has proven to be a proxy bet for OpenAI in the cryptocurrency market, often experiencing volatility when Altman or OpenAI are in the news, despite being inherently unrelated. While WLD is down about 5%, the broader cryptocurrency market cap is down less than 1.5% over the same period.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

Adam is Editor-in-Chief for Europe, Middle East and Africa. He lives in Central Europe and is the editor-in-chief and podcast host at OKX Insights, the former research arm of cryptocurrency exchange OKX. Prior to that, he co-founded and served as Editor-in-Chief of BeInCrypto.com, growing it into one of the leading cryptocurrency media brands. He previously served as Editor-in-Chief of Bitcoinist.com. Before joining the blockchain and cryptocurrency industry, he worked at Looper.com, Grunge.com, and SVG.com. He tweets at @XBT002 and can be emailed at (email protected).
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