Here’s Why Worldcoin (WLD) Price Surged 35% Today

Worldcoin’s WLD token has seen a dramatic increase in its price within the last 24 hours. This surge closely follows OpenAI CEO Sam Altman’s renewed commitment to the Worldcoin project.

Altman reportedly seeks an additional $50 million in funding to bolster the ambitious cryptocurrency endeavor.

Sam Altman Dobles Down on Worldcoin

Worldcoin, under the banner of Tools For Humanity, aims to establish a global identity and financial network. Over 2.6 million individuals have engaged with Worldcoin’s “orb” devices to date. Indeed, they have scanned their irises to receive a unique digital ID and complimentary cryptocurrency.

In a recent virtual Q&A with fintech-focused investment bank FT Partners, Sam Altman underscored the growing significance of digital identity.

“In a world with a lot of AI, knowing who is human matters more and more. The belief was and is that as AI becomes an increasingly important part of our lives… The ability to identify unique humans was going to be more and more important,” Altman said.

Read more: What Is Worldcoin? A Guide to the Iris-Scanning Crypto Project

Therefore, the latest financial pursuit builds on Worldcoin’s previous success in raising $115 million in a Series C funding round. Esteemed investors like Blockchain Capital, a16z Crypto, and Bain Capital Crypto have already supported this innovative venture.

As Worldcoin seeks additional capital to complete its mission, the WLD’s price has recently soared from $2.41 to $3.27. Interestingly, this upward price action might have been foreseen. BeInCrypto’s Global Head of News, Ali Martinez, noted an early anomaly in on-chain activity.

“A massive exchange outflow of 3.6 million WLD has coincided with a spike in whale transactions. This may indicate WLD whales are gearing up for a big price move,” Martinez said on Thursday.

Despite the excitement, Worldcoin has not been without scrutiny. Regulators in the United Kingdom and Germany closely monitored the company post its launch in July. Consequently, signaling the critical nature of data privacy and security in such groundbreaking technology.