Worldcoin price dips 46% in a month as Sam Altman’s project faces investigation worldwide

• Worldcoin’s WLD token price dropped 46.37% within a month of its launch. 
• The project is currently under investigation in Germany, France and the UK, and WLD price continues its downward trend.
• An alleged whistleblower raised red flags in the project and claims to have worked on Worldcoin since before its token launch.

Worldcoin, a crypto project by ChatGPT founder Sam Altman, has garnered growing scrutiny from regulators and watchdogs worldwide. The project has earned a reputation for possible violations of national data protection laws, because of its eye-ball scanning orbs that enroll users.

In an interesting turn of events, a whistleblower who claims to have worked with the Worldcoin team since before WLD token launch, has come forward with red flags and allegations. WLD price continues to bleed as authorities in Germany, France and the UK investigate the project.

Also read: Worldcoin spends nearly $500,000 in Ethereum gas fees, here’s how EIP-4844 can help save millions annually

Worldcoin WLD token plummets 46% in 30 days

WLD token traded at $2.456, on July 25, the day following its listing on Binance. Since then, WLD price dropped to $1.317, as of Friday morning. In a 30-day timeframe, WLD shaved off 46.37% of its price. This is a significant decline for a token, when several altcoins and cryptocurrencies went through a period of market crash followed by a recovery within a few weeks. 

WLD/USDT price chart on Binance

Developments around Worldcoin and ongoing investigations from authorities in different countries have acted as an influence on WLD token’s price. The project aimed at creating decentralized identities for users has raised concerns on account of its enrollment process. The scanning of eye-balls through orbs and collecting biometric data, is likely a violation of national data protection laws.

Several governments have flagged the same and Worldcoin is currently under investigation in Germany, France and the UK.

Alleged whistleblower points at red flags

Nadir Hajarabi, an alleged whistleblower who describes his association with Sam Altman’s team since before WLD token launch, issued a video statement on YouTube. Hajarabi says he left the project post the release of the token and the whitepaper.

Describing himself as a believer in Universal Basic Income, Hajarabi characterizes Worldcoin as an organization that executed the same “horrendously” and shared several red flags associated with the project in his video. Without elaborating on specific details, Hajarabi explained that he released his statement with the consent of his legal team.

FXStreet has contacted Worldcoin for comments. Watch this space for updates.

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