Sam Altman’s identity-focused crypto project Worldcoin (WLD) is one of the top-performing crypto assets in the last several days as it faces regulatory scrutiny in Europe.
Last week, the government of Spain ordered Worldcoin to stop collecting data in the nation after receiving numerous complaints from customers.
The Spanish Data Collection Agency (AEPD) mandated that Worldcoin stop collecting personal data after allegedly infringing upon users’ privacy rights.
However, in a recent blog post, Worldcoin, a project of tech firm Tools For Humanity (TFH), says that it will be taking legal action against Spain as it is in compliance with all laws.
Amid the regulatory battle, WLD has surged in price. At time of writing, WLD is trading at $10.56, and is up 337% in the last month, and 43% in the last 24 hours. Its market cap is at $1.562 billion, but since only 148.5 million out of the 10 billion tokens are in circulation, WLD’s fully diluted valuation is now over $105 billion.
Worldcoin has a 15-year vesting schedule, which includes the distribution of tokens to the WLD community, TFH investors, initial development team and TFH reserve.
Late last year, Worldcoin – co-founded by Sam Altman, the chief executive of OpenAI – had its operations paused in the nations of Brazil, India and France, causing its price to plummet by 20% at the time.
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