Worldcoin soars amid major development at OpenAI

• Worldcoin (WLD) price jumped to a new all-time high of $10.92 on March 9.
• Gains have come amid fresh developments at OpenAI, where WLD co-creator Sam Altman is the CEO.
• Worldcoin contributor Tools for Humanity recently filed a lawsuit against Spanish authorities.

The price of Worldcoin (WLD) has spiked more than 50% in the past 24 hours, reaching a new all-time high above $11.

WLD, which traded at lows of $7.47 early Saturday, soared past the psychological $10 level. This sees bulls eyeing new heights amid price discovery, with price testing $11.05 on Binance.

Worldcoin price was up 48% in 24 hours at the time of writing, and 358% in the past 30 days. Data from CoinGecko also shows 24-hour trading volume was up 286% to $1.56 billion.

Worldcoin price surges as Altman returns to OpenAI board

Worldcoin’s latest spike above $10 comes as OpenAI CEO Sam Altman returned to the company’s board of directors, with this happening amid the inclusion of new members. Altman’s comeback continues after the debacle that followed his ouster and swift reinstatement as CEO in 2023.

Meanwhile, new board members Fidji Simo, Sue Desmond-Hellmann, and Nicole Seligman have joined. OpenAI’s release of the text-to-video AI model Sora in February helped WLD price surge alongside other AI-related tokens.

However, earlier this month, Worldcoin’s price fell more than 5% to lows of $6.10 after Elon Musk sued OpenAI.

The token’s value also faced downside pressure this week as Spanish authorities ordered Worldcoin to halt its activities in the country. The three-month ban was down to concerns around the project’s biometric data privacy.

In a blog post published March 6, Worldcoin stated that it had operated “lawfully in Spain.” This includes its engagement with BayLDA, the regulatory watchdog for GDPR compliance in the EU.

“It is unfortunate that the Spanish data protection authority (AEPD) is circumventing established procedures under GDPR with their actions today,” Jannick Preiwisch, Data Protection Officer at the Worldcoin Foundation, said in a statement.

The project has however paused all World ID verification services in the country. Meanwhile, Worldcoin contributor Tools for Humanity has filed a lawsuit against the AEPD order.