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ZachXBT accuses Worldcoin of FTX-style tactics as Musk turns up heat on Altman

ZachXBT accuses Worldcoin of FTX-style tactics as Musk turns up heat on Altman

Worldcoin faces allegations of unethical practices in token distribution and data collection in emerging markets.

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by Vivian Nguyen

Crypto sleuth ZachXBT called out Sam Altman’s Worldcoin in a post responding to Elon Musk’s “Scam Altman” broadside, saying the project deserves far more scrutiny than it gets.

ZachXBT said Worldcoin launched the WLD token with a predatory low float on par with Sam Bankman-Fried’s FTX companies, and preyed on people in low-income countries by exchanging small token amounts for biometric data.

The human verification technology it promised has instead produced a black market for verified accounts, ZachXBT said, while token supply inflates at unsustainable levels and insiders quietly offload holdings via OTC.

Musk and Altman to face off in court

Musk and Altman will face off in a high-stakes federal trial in Oakland that has already taken on a deeply personal edge.

The dispute hinges on Musk’s claim that OpenAI abandoned its original nonprofit mission, which he funded with tens of millions, to keep its technology open and focused on public benefit, instead shifting into a closed for-profit structure tied closely to Microsoft.

In response, OpenAI argues the split traces back to Musk’s failed attempt to take control in 2018 and says restructuring was necessary to compete with companies like Google. Altman’s legal team counters that the lawsuit is driven by rivalry, noting that Musk now leads competing firm xAI and is trying to slow OpenAI’s momentum.

Musk is seeking sweeping changes including leadership removal, a return to nonprofit status, and more than $134 billion in damages.

Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
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ZachXBT accuses Worldcoin of FTX-style tactics as Musk turns up heat on Altman

ZachXBT accuses Worldcoin of FTX-style tactics as Musk turns up heat on Altman

Worldcoin faces allegations of unethical practices in token distribution and data collection in emerging markets.

by Vivian Nguyen

Share

Add us on Google

Crypto sleuth ZachXBT called out Sam Altman’s Worldcoin in a post responding to Elon Musk’s “Scam Altman” broadside, saying the project deserves far more scrutiny than it gets.

ZachXBT said Worldcoin launched the WLD token with a predatory low float on par with Sam Bankman-Fried’s FTX companies, and preyed on people in low-income countries by exchanging small token amounts for biometric data.

The human verification technology it promised has instead produced a black market for verified accounts, ZachXBT said, while token supply inflates at unsustainable levels and insiders quietly offload holdings via OTC.

Musk and Altman to face off in court

Musk and Altman will face off in a high-stakes federal trial in Oakland that has already taken on a deeply personal edge.

The dispute hinges on Musk’s claim that OpenAI abandoned its original nonprofit mission, which he funded with tens of millions, to keep its technology open and focused on public benefit, instead shifting into a closed for-profit structure tied closely to Microsoft.

In response, OpenAI argues the split traces back to Musk’s failed attempt to take control in 2018 and says restructuring was necessary to compete with companies like Google. Altman’s legal team counters that the lawsuit is driven by rivalry, noting that Musk now leads competing firm xAI and is trying to slow OpenAI’s momentum.

Musk is seeking sweeping changes including leadership removal, a return to nonprofit status, and more than $134 billion in damages.

Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.