Worldcoin (WLD) Eyes Gains Despite Regulatory Black Eye

Worldcoin (WLD) is defying the odds, surging over 7% in the past 24 hours. But is it a case of "buy the dip" or a headwind-battered ship

Arslan Butt•Thursday, March 7, 2024•1 min read

Worldcoin (WLD) Eyes Gains Despite Regulatory Black Eye

Worldcoin (WLD) is defying the odds, surging over 7% in the past 24 hours. But is it a case of “buy the dip” or a headwind-battered ship best avoided? Let’s dive into the latest developments surrounding WLD, including a fresh regulatory hurdle, and analyze the technicals to help you navigate this choppy crypto sea.

Spanish Inquisition for Worldcoin

In a blow that sent shivers down investor spines, Spain slammed the brakes on Worldcoin, imposing a three-month ban. The Spanish data protection watchdog, AEPD, expressed deep reservations about Worldcoin’s iris-scanning tech and data collection practices, fearing privacy violations. Worldcoin vehemently denies these claims, asserting they fully comply with EU regulations. This public spat throws a wrench into Worldcoin’s ambitions and adds a layer of uncertainty to its future.

Global Watch on Worldcoin Intensifies

Spain isn’t the only one raising a skeptical eyebrow at Worldcoin. South Korea has joined the party, launching its own investigation into the project’s data practices. This adds to a growing chorus of concern from countries like Kenya, Argentina, and Germany. If these investigations uncover wrongdoing, further restrictions could be on the horizon for Worldcoin.

OpenAI Feud Throws Shade on WLD Co-founder

Sam Altman, the co-founder of Worldcoin, is facing his own storm. OpenAI, another company he co-founded, recently released emails suggesting Altman prioritized profits over OpenAI’s original mission. This public spat could potentially erode investor confidence in Altman’s ventures, including Worldcoin.

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ABOUT THE AUTHOR See More

Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.