- Worldcoin (WLD), a controversial AI project, is under scrutiny as $200 million is erased from its “community allocation”.
- DeFi Squared, a top trader and crypto expert, criticizes the move, suggesting that the project is a scheme to enrich insiders.
- With the potential for a 4% daily inflation rate, the future of WLD remains uncertain.
Worldcoin (WLD) faces criticism as $200 million disappears from its “community allocation”. DeFi Squared, a top trader, suggests the project is a deceptive scheme. With a potential 4% daily inflation rate, the future of WLD is uncertain.
Crypto whale slams Worldcoin (WLD) as $200 million erased from “community allocation”
Worldcoin (WLD), hailed as “the greatest transfer of wealth of this entire cycle,” is under fire from DeFi Squared, a top trader on Bybit and DeBank. DeFi Squared suggests that the project is a deceptive scheme designed to enrich the team and insiders, rather than provide universal basic income as suggested by their mission. The Worldcoin Foundation recently announced plans to release another $200 million worth of WLD to trading firms, a move that conflicts with the interests of retail holders and eye-scanning program participants. This move could potentially lead to an additional 18% of the entire circulating supply being sold at a discount to obscure market actors.
Jaw-dropping 4% per day inflation in sight for WLD?
DeFi Squared warns that the WLD supply could inflate at a rate of 4% per day as soon as this July, when VC and team unlocks begin vesting. This could result in a daily selling pressure of $50 million on retail holders. Furthermore, DeFi Squared suggests that the role of OpenAI inventor Sam Altman in Worldcoin (WLD) might be heavily over-marketed, as most retail buyers are likely not even aware that Sam Altman currently has no active involvement in Worldcoin.
Conclusion
The future of Worldcoin (WLD) remains uncertain as it faces criticism and potential inflation. With $200 million erased from its “community allocation” and the potential for a 4% daily inflation rate, the project is under scrutiny. As DeFi Squared suggests, the project may be a deceptive scheme designed to enrich insiders, rather than provide universal basic income as suggested by their mission. The role of OpenAI inventor Sam Altman in the project may also be over-marketed, adding to the uncertainty surrounding the future of WLD.
