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.
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