- Worldcoin’s cryptocurrency, WLD token, has rebounded after a 13% drop following rumors that Sam Altman might return to OpenAI
- Altman’s departure led to a weekend drop in WLD value, but the cryptocurrency rebounded significantly, recovering more than its initial losses on rumors that Altman was planning a swift return
- However, it seems that the ousted CEO may be joining Microsoft, so the bounce may be short-lived
The cryptocurrency associated with the Worldcoin project has rebounded after dropping more than 10% over the weekend amid rumors that Sam Altman, former CEO of the ChatGPT owner OpenAI, may be returning to the company. Altman was dismissed by OpenAI’s board on Friday after allegations that he was “not consistently candid in his communications with the board,” resulting in the WLD token falling 13%, despite not being related to Worldcoin owner Tools for Humanity. It has more than made up for its losses, however, bouncing 17% after rumors began circling that Altman might be in line for a stunning return to the company in his previous role.
Altman Headed to Microsoft?
The tech world was abuzz with scandal over the weekend following Altman’s dismissal, which was followed by the resignation of several other board members. Little was given away about the reason behind Altman’s departure, although late on Sunday Bloomberg reported that Altman had been “actively working to raise billions from some of the world’s largest investors for a new chip venture,” which OpenAI’s board may not have taken kindly to.
However, it seems that Altman may be about to get a reprieve, with The Verge reporting that OpenAI’s board is in discussions with the ousted CEO to return to the company as CEO. This was almost certainly behind WLD jumping past its prior valuation, although the move may turn out to be premature; reports this morning from Reuters quoted Microsoft CEO Satya Nadella as saying that Altman and OpenAI co-founder and President Greg Brockman, one of those who quit, will be joining Microsoft to lead a new advanced AI research team.
This may be behind the drop from $2.72 to $2.55 in the WLD price, and with Altman and other members of the OpenAI board having departed, there may be bigger changes afoot in the company, starting with Worldcoin and its famous ‘Death Star’ orbs.