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
Soaring oil prices intensify inflation pressure: Asian stocks and bonds plunge, Nikkei tumbles nearly 3%, US 10-year Treasury yield nears 5%
Brent crude oil prices rose by 0.2% on Friday, closing at $107.86 per barrel. The Nikkei 225 Index fell by as much as 2.8% in early trading, and the Indian Nifty Index also dropped by about 1%. Asian government bonds followed US Treasuries lower, with the yield on Australian three-year government bonds jumping as much as 20 basis points in a single day to 5.05%. The yield on US 10-year Treasuries hovered at 4.96%, just shy of the 5% mark. The market is holding its breath in anticipation of US CPI data on Friday.
Why Is Uniswap (UNI) Up 1.78% Today? Open Interest at $502M Signals Derivatives Demand
Venice Token (VVV) Holds $24.40 While BTR Drops 24.7% — What the Data Says
Zcash Price Prediction 2026: Can ZEC Reach $2,200 After 2,000% Rally as MemeToro Targets AI Crypto Growth?
Crypto prices
More
