OpenAI CEO in ‘advanced talks’ for $100M Worldcoin funding: report

OpenAI boss Sam Altman is reportedly in “advanced talks” to secure $100 million in funding for Worldcoin, which aims to create a collectively owned and globally distributed cryptocurrency.

A Financial Times reports Citing sources with knowledge of WorldCoin’s funding talks, a publication on May 15 said that the $100 million would be secured from a mix of “existing and new investors.”

When it was first revealed to the world, the startup claimed a Series A funding round led by a16z, which included Digital Currency Group, Coinbase Ventures as well as former FTX CEO Sam Bankman-Fried and LinkedIn co-founder Reid Hoffman was also involved.

In March 2022, a report by The Information Claimed The firm was raising $100 million from investors through a private token sale, cited two people with knowledge of the matter.

what a week! From (_) to (_), WorldCoin Protocol and its partners have covered a lot in just a few days.

let’s recap!

— worldcoin (@worldcoin) May 13, 2023

In the most recent report, a person familiar with the matter said that the potential new funding was sizeable given the extended crypto winter.

“This is a bear market, a crypto winter. For a project in this sector to receive an investment of this amount is remarkable,” said the source.

Cointelegraph reached out to WorldCoin but did not receive an immediate response.

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Co-founded by Alex Blania, Sam Altman and Max Novendstern, work on the WorldCoin project began in early 2020.

According to Worldcoin officials, the project aims to “tackle two problems” posed by the increasing complexity of artificial intelligence.

Meanwhile, Worldcoin is preparing to launch its blockchain protocol and begin recording transactions within the “next six weeks” after operating in beta.

On May 8, Worldcoin launched its own gas-free crypto wallet for verified humans.

WorldCoin is by @Environment the break we needed #ENS Adoption? pic.twitter.com/uIJmvZditN

— echelon.eth️ (@echelondoeth) May 14, 2023

Tiago Sada, a member of the WorldCoin team, previously told Cointelegraph that the wallet was launched as “an alternative wallet that just focuses on simplicity.”

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