With recent bans in several countries, and scrutiny from global regulators, Worldcoin faces the challenge of balancing aspirations with privacy safeguards. The move, led by World Assets, involves weekly sales of between 0.5 million and 1.5 million WLD to select institutional trading firms outside the U.S.
This expansion aims to inject an additional 36 million tokens into the market, valued at approximately $173 million as of current prices. The recent downturn in the crypto market, heightened by Worldcoin’s price drop of nearly 60% from its all-time high, could be a catalyst.
By releasing additional tokens, Worldcoin might be seeking to stabilize its value and stimulate demand. Currently, Worldcoin’s market cap is $968 million.
Another important metric is the fully diluted value (FDV), which considers Worldcoin’s potential value if all its tokens were available for trading. Blania, CEO and co-founder of Tools of Humanity and the lead developer of the Worldcoin project, held discussions with representatives from Malaysia’s digital ministry.
Additionally, Blania and Altman participated in a video call with Malaysia’s Prime Minister, Anwar Ibrahim, to establish constructive dialogue with government officials. These interactions with Malaysian authorities were aimed at addressing data privacy concerns and building closer collaboration with regulators.
Worldcoin faces scrutiny from regulators in several countries due to privacy concerns related to the process of scanning users’ irises to create personal World IDs. Acknowledging the need to address these concerns, Worldcoin has implemented new measures to enhance privacy and data protection.
Worldcoin is trying to overcome regulatory and market challenges with two crucial moves at the same time. Based on Optimism’s OP stack framework, this blockchain promises cheaper fees and faster transaction speeds, while World Chain’s integration with the OP Stack framework facilitates increased adoption and accessibility for developers to reach millions of users with applications focused on real-world utility.
The critical question remains: will these moves be enough to establish Worldcoin as a key player in the crypto market? The outcome is yet to unfold.
