Controversial crypto project Worldcoin, co-created by Sam Altman, saw its WLD token dropping 9.1% over the past 24 hours.
As of 4:15 p.m. HKT, WLD was trading at around $1.33, compared with $2.36 from a month ago, according to"The recent decline in Worldcoin's WLD token price is a concerning trend, particularly when compared with the current signs of recovery in other tokens such as Ripple’s XRP," Jeff Mei, chief operating officer of crypto exchange BTSE, told The Block today.
"Despite launching only recently, Worldcoin finds itself facing regulatory headwinds due to concerns over data privacy," Mei said, adding:"The backlash has led to the exclusion of U.S. residents from purchasing or trading the token, exacerbating selling pressure. There have also been reports of Kenya’s parliament establishing a committee to investigate Worldcoin’s activities in the country.
Tools for Humanity, the lead developer of the Worldcoin project, was cofounded by Sam Altman, Alex Blania and Max Novendstern in 2019. The project encourages users to prove their identity online by signing up for a World ID via an iris scan.Government backlash against Worldcoin
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