Worldcoin token drops 5% amid Elon Musk's lawsuit against OpenAI
The price of Worldcoin’s WLD token dropped about 5% amid news that Elon Musk has sued OpenAI and Sam Altman.Worldcoin’s WLD token has emerged as a proxy bet on OpenAI in the crypto markets.
Musk, the enigmatic leader of Tesla and SpaceX, co-founded OpenAI in 2015 before stepping down from its board in 2018.
The lawsuit, which was filed in San Francisco, claims OpenAI’s profit-oriented focus violates the aforementioned contractual agreements, as the company’s efforts to allegedly keep the design of GPT-4 “a complete secret,” Reuters reported .
Worldcoin’s WLD token has proven to be a proxy bet on OpenAI in the crypto markets, often experiencing volatility when Altman or OpenAI are in the news, despite not being inherently related. While WLD has declined by about 5%, the wider cryptocurrency market capitalization has declined by just less than 1.5% over the same timeframe.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
ECB rate hike expectations cool down, Lagarde: Rising long-term rates will suppress growth and inflation
Christine Lagarde, President of the European Central Bank, stated that a significant rise in long-term interest rates will slow economic growth and suppress the transmission of energy prices to overall inflation, exceeding the extent forecasted by the ECB in September. She also emphasized that in the absence of signs of second-round effects, the ECB should adopt "moderate response measures" to control inflation. As a result, the market’s expectation of an ECB rate hike in October has dropped to less than 40%.
BitMine stock trades near golden cross as Ethereum holdings approach 5%
Chainlink’s CCIP upgrade adds extra security layers after $292M hack
XDC crypto’s bullish setup strengthens – Why $1.08M in exchange inflows matter
Crypto prices
More
