Worldcoin Raises $135M Amid Biometric Project Concerns

Worldcoin, a project headed by OpenAI CEO Sam Altman, has raised $135 million through the sale of WLD tokens to bolster its biometric ID network globally.

This investment, led by notable backers like Andreessen Horowitz and Bain Capital Crypto, comes despite regulatory scrutiny, causing a near 14% rise in WLD token value.

Worldcoin Secures $135M Investment Amid Biometric Concerns

World Foundation’s World Assets, Ltd. has successfully secured $135 million amid rising concerns about biometric ID use. The funding seeks to expand their presence, focusing on Orb-verified World IDs and network growth.

Co-founder Sam Altman leads the initiative, supported by early investors such as Andreessen Horowitz and Bain Capital Crypto. “This funding opportunity is in service to the long-term mission of World and is backed by the builders who believed in World from the beginning.” – Sam Altman, World Foundation. The company aims to expand operations in the United States, despite existing challenges.

WLD Tokens Rise 14% After Funding Announcement

The investment sparked a 13-14% increase in WLD token prices, highlighting strong community interest. Observers see this as indicative of the market’s confidence in the project’s objectives despite governmental scrutiny.

The funding’s financial and regulatory consequences are under discussion, focusing on potential network growth. Historical trends suggest increased regulatory challenges due to the project’s collection of biometric data.

Biometric Projects Face Regulatory Scrutiny in 2021 Market

The World Network initially launched during a bullish crypto market in 2021 but has faced obstacles from prolonged bearish conditions. Similar projects focusing on biometric data have also experienced regulatory challenges.

Experts from Kanalcoin highlight the significance of biometric technology in digital verification. They emphasize the importance of balancing innovation with regulatory compliance, predicting possible shifts in market conditions.