Five Market Makers Nearing Worldcoin (WLD) Loan Settlement Date

In July, according to EmberCN, when Worldcoin (WLD) launched, it lent a collective sum of 100 million WLD to five market makers to enhance liquidity. According to the terms, these market makers must either return the coins or buy them at a price ranging between $2 to $3.12 by the conclusion of a three-month term, which is slated for October 22. With the date less than a month away, a close examination of the recent on-chain activities and the current WLD holding statuses of these market makers unveils notable insights.


Initially allocated 28 million WLD, Wintermute now holds 14.16 million WLD on-chain. In the recent fortnight, there has been a retrieval of 1.93 million WLD from Binance. This reflects a possible preparation towards fulfilling the loan settlement terms. The retrieval also suggests a level of activity that might be aimed at either returning the borrowed sum or purchasing them as per the agreed price range.

Amber Group

Amber Group started with an allocation of 24 million WLD, but its current on-chain holdings have dwindled to 4.5 million WLD. In July, a hefty sum of 19.5 million WLD was transferred to various centralized exchanges (CEX), with no recent retrievals noted from these platforms. The large transfer to exchanges could have been a move to take advantage of possible higher market prices, but the lack of recent retrievals from CEX might raise queries on their strategy towards the upcoming settlement deadline.

Flow Traders

Similar to Amber Group, Flow Traders was allocated 24 million WLD. They now hold 8.5 million WLD on-chain. Noteworthy is their recent activity where they retrieved 2.45 million WLD from multiple CEX in the last two weeks. This activity could be perceived as a step towards amassing the necessary WLD for either return or purchase as per the loan agreement.

Auros Global

With an initial allocation of 12 million WLD, Auros Global’s on-chain holdings have significantly reduced to 0.5 million WLD. They transferred 11.5 million WLD to various CEX in July, with no recent activity of retrievals from these platforms. The substantial reduction in on-chain holdings and the absence of recent retrievals may prompt questions regarding their strategy as the loan settlement date approaches.

The observed data exhibits a range of strategies among the market makers as the loan settlement deadline looms. Some market makers have initiated retrievals from exchanges, possibly in preparation for the return or purchase of the borrowed WLD, while others have not shown such movements. These actions are critical for WLD stakeholders to monitor as they could potentially impact the market dynamics of Worldcoin.

The unfolding scenario presents a significant juncture for Worldcoin and its market makers. The actions of these market makers could either fortify or challenge the market stability of WLD, especially as the settlement date nears. The anticipation builds among the WLD community and the crypto market at large as to how these market makers will act – whether they will return the borrowed WLD or opt to purchase them, and how such actions would subsequently affect the market dynamics of Worldcoin.

Image source: Shutterstock


Tagged : / / / / / /

Worldcoin Faces Investigation by Germany’s Regulator

The Bavarian State Office for Data Protection Supervision has initiated an investigation into the Worldcoin crypto project, a new initiative that requires users to provide iris scans in exchange for a digital ID and potentially free cryptocurrency, according to Reuters. The investigation, which began in November 2022, is probing the large-scale processing of sensitive biometric data.

Worldcoin, launched last week with the ambition to create a new “identity and financial network,” has already seen 2.1 million sign-ups, primarily during a two-year trial period. The sign-up process involves a shiny spherical “orb” that scans faces in various locations, including France, Germany, and Spain.

The German regulator’s president, Michael Will, has expressed concerns about the project’s use of new technology to process sensitive data on a vast scale. Questions have been raised about the suitability of these technologies for transferring financial information, and whether users have provided explicit consent based on clear and sufficient information.

Worldcoin’s network is described as “privacy-preserving” on its website, with assurances that personal data is stored in encrypted form. The Worldcoin Foundation, a Cayman Islands-based entity, has publicly stated its compliance with European Union rules and pledged cooperation with governing bodies regarding privacy and data protection practices.

However, privacy campaigners have voiced concerns over the wide-scale collection and storage of biometric data, fearing potential increases in surveillance or targeted actions against specific demographic groups.

Several European supervisory authorities have also shown interest in Worldcoin. France’s privacy watchdog has commented that the legality of Worldcoin’s data collection appears “questionable,” and Britain’s data regulator has announced plans to make inquiries into the project.

The investigation is led by the Bavarian state regulator due to the presence of a German subsidiary of Tools For Humanity, the company behind Worldcoin, in the region.

The Worldcoin project represents a novel approach to identity verification and financial networking but has clearly raised significant legal and ethical questions. As the investigation continues and more authorities express interest, the crypto community and privacy advocates alike will be watching closely to see how these concerns are addressed.

But the scrutiny in Germany is not the only challenge Worldcoin faces.

Worldcoin underwent comprehensive security audits conducted by Nethermind and Least Authority, beginning in April 2023. The audits covered areas such as correctness of implementation, secure key storage, resistance to attacks, and data privacy. Out of 26 items identified, 24 were fixed, one was mitigated, and one was acknowledged.

Despite these measures to enhance security and privacy, the project’s coin WLD launch on July 25, 2023, was met with immediate criticism. French and UK authorities questioned the legality of Worldcoin and considered investigating potential violations of data protection laws, adding to the growing list of concerns surrounding this ambitious project.

Image source: Shutterstock


Tagged : / / / /

Worldcoin Protocol Undergoes Comprehensive Security Audits

Worldcoin, a blockchain-based protocol that integrates both off-chain and on-chain components, a proof of humanity protocol co-founded by Sam Altman of OpenAI, recently underwent two separate security audits. The audits were conducted by Nethermind and Least Authority, two reputable audit firms, beginning in April 2023. The protocol’s implementation, which includes its use of cryptographic constructs and smart contracts, is detailed in the Worldcoin whitepaper.

Worldcoin publicly launched on July 25, 2023, with the token WLD listed on mainstream crypto exchanges including Binance and Okex. However, the launch was met with immediate criticism. The French data protection agency, CNIL, questioned the legality of Worldcoin. The United Kingdom’s Information Commissioner’s Office (ICO) considered investigating the project for potential violations of the country’s data protection laws. 

The audits covered a wide range of areas, including the correctness of the implementation, potential implementation errors, adversarial actions, secure key storage, resistance to DDoS attacks, vulnerabilities in the code, protection against malicious attacks, performance issues, data privacy, and inappropriate permissions.

Nethermind focused on the protocol’s smart contracts, which include the World ID contracts, the World ID state bridge, the World ID example airdrop contracts, the Worldcoin tokens (WLD) grants contracts, and the WLD ERC-20 token contract and its associated vesting wallet. Out of the 26 items identified during this security assessment, 24 (92.6%) were fixed after the verification stage, one was mitigated, and the remaining one was acknowledged.

Least Authority, on the other hand, concentrated on the protocol’s use of cryptography, including its use of the Semaphore protocol and the enhancements made to scale the protocol in a more gas-efficient manner. These include the protocol’s cryptographic design and implementation, the Rust implementation of the semaphore protocol, and the Go implementation of the Semaphore Merkle Tree Batcher (SMTB). The team identified three issues and offered six suggestions, all of which have either been resolved or have planned resolutions.

In their report, Least Authority stated, “We found that the cryptographic component of the Worldcoin Protocol is generally well-designed and implemented.”

Some of the items identified during the audits were due to the protocol’s dependencies on Semaphore and Ethereum, such as elliptic curve precompile support or Poseidon hash function configuration.

Worldcoin aims to establish a proof of personhood that is decentralized, privacy-preserving, open-source, and accessible to everyone. For more information about the project, the Worldcoin whitepaper and related documents are available for review.

Image source: Shutterstock


Tagged : / / / / /

UK’s ICO to Investigate OpenAI CEO’s Worldcoin Project

The Information Commissioner’s Office (ICO) announced on July 25, 2023, that it plans to initiate an investigation into Worldcoin, a project overseen by OpenAI CEO Sam Altman. The investigation is set to commence shortly after the announcement. ICO is the data regulator in the United Kingdom.

The ICO’s decision to scrutinize Worldcoin comes in the wake of the project’s unique approach to user participation. To be part of Worldcoin, individuals are required to submit iris scans. In return for their participation and the biometric data they provide, participants are rewarded with a digital identity and free cryptocurrency.

Following a successful test period that included two million participants and beginning on July 24, 2023, Worldcoin was introduced to the general public. During the same time period, eyeball scanning activities were extended throughout twenty countries, some of which included locations in London.

According to the market tracker CoinGecko, the value of a Worldcoin token first skyrocketed when it was launched on Monday, reaching a high point of $3.30.

The launch of Worldcoin’s native token, known as WLD, did not include the United States due to concerns over various legislations. As a result, US-based cryptocurrency exchanges such as Coinbase and Kraken did not support it, a decision directly influenced by the prevailing regulatory environment.

Addressing privacy concerns, the Worldcoin Foundation has stated that it adheres to stringent privacy rules and is consistently evaluating local laws and regulations to ensure compliance.

The foundation asserts that it operates in full accordance with all laws and regulations governing the collection and transfer of biometric data, including the General Data Protection Regulation (GDPR) in Europe. This regulation outlines the procedures for data collection from individuals and the channels through which it must be disseminated.

Worldcoin, co-founded by OpenAI CEO Sam Altman, has gained significant exposure as ChatGPT, another project by OpenAI, continues to gain widespread popularity.

The company secured substantial investment in May from prominent firms such as Andreessen Horowitz, Bain Capital Crypto, and Distributed Global, totaling $115 million.

Image source: Shutterstock


Tagged : / / / /

CoinFund: Worldcoin Could Onboard Billions of Users into the Crypto Economy

In a recent blog post by CoinFund, the investment firm detailed its thesis for investing in Worldcoin, a project aiming to solve the identity problem in the crypto economy. The post, authored by Austin Barack and Jake Brukhman, was published on July 23, 2023, and provides an in-depth look at the potential of Worldcoin.

Worldcoin’s mission is to prove human uniqueness in a digital context while maintaining anonymity and privacy. The project has developed a state-of-the-art hardware device, the Worldcoin Orb, which uses iris biometrics to determine human uniqueness. The Orb creates a unique hash from a user’s iris pattern, which is then used to prevent duplicate sign-ups. Importantly, the raw biometric data is permanently deleted after the hash is created, ensuring privacy.

The ability to prove a user’s uniqueness without requiring personally identifiable information has significant implications for digital interactions. For instance, it can enable one-person-one-vote systems in Decentralized Autonomous Organizations (DAOs), prevent the creation of spam social media accounts, and facilitate equitable airdrops in crypto networks.

Worldcoin’s approach also allows for the fair distribution of a network asset on a global scale. With the Worldcoin Orb and World ID, each user can receive approximately equivalent amounts of Worldcoin’s native token (WLD), regardless of when they sign up. This approach aims to incentivize user participation and could potentially bring billions of users to the crypto economy.

As of July 23, 2023, Worldcoin has signed up more than two million users (2,060,888 to be exact). CoinFund, one of Worldcoin’s earliest backers, believes that Worldcoin’s unique approach to proving personhood and distributing network assets could be transformative for global digital coordination and financial inclusion.

However, it’s important to note that CoinFund’s views are not representative of all investors, and potential investors should conduct their own due diligence. The future of Worldcoin, like all crypto projects, is subject to various risks and uncertainties.

In conclusion, Worldcoin’s innovative approach to solving the identity problem in the crypto economy could potentially onboard billions of users to the crypto economy. Its unique proof of personhood and fair distribution of network assets are key innovations that could transform digital interactions and global financial inclusion.

Image source: Shutterstock


Tagged : / / / / /

Ethereum Co-Founder Vitalik Discusses Worldcoin’s Biometric Proof of Personhood

Co-founder of Ethereum Vitalik Buterin explored the idea of biometric evidence of personhood, a subject that is gaining popularity in the Ethereum community, in a blog post from July 24, 2023. The article “What do I think about biometric proof of personhood?” examines the possible benefits and difficulties of decentralized proof-of-personhood solutions.

According to Buterin, proof of personhood is a kind of real-world identification that claims a certain registered account is run by a real person, preferably without disclosing whose actual person it is. The “unique-human problem” is addressed by this idea, which has become the subject of various initiatives, including Proof of Humanity, BrightID, Idena, and Circles.

One of the most ambitious projects in this space is Worldcoin, co-founded by Sam Altman, CEO of OpenAI. Worldcoin’s approach to proof of personhood is unique as it relies on sophisticated biometrics, scanning each user’s iris using a specialized hardware called “the Orb”. The goal is to distribute these Orbs globally, making it easy for anyone to get an ID.

Buterin acknowledges the criticisms Worldcoin has faced, including privacy and security concerns around the Orb, design issues in its “coin”, and ethical issues around some choices the company has made. He also discusses the broader concerns about whether biometrics are a good idea at all and the potential risks of proof of personhood in general, such as privacy leaks, coercion by authoritarian governments, and the challenge of maintaining security while being decentralized.

The blog post also explores the importance of proof of personhood, stating that it is valuable because it solves anti-spam and anti-concentration-of-power problems, avoids dependence on centralized authorities, and reveals minimal information. Without proof of personhood, decentralized governance becomes easier to capture by wealthy actors, including hostile governments.

Buterin also discusses the potential applications of proof of personhood, which include airdrops for token distributions, voting in DAOs, protection against bots/sybil attacks in social media, and an alternative to captchas for preventing DoS attacks, among others.

Despite the potential benefits, Buterin acknowledges the challenges that biometric proof-of-personhood systems face, including privacy concerns, accessibility issues, and centralization risks. He also explains Worldcoin’s solutions to these problems, including as its long-term dedication to decentralization, its use of ZK-SNARKs and other cryptographic tools to safeguard users’ anonymity, and its possibility for auditing Orbs to make sure they are constructed appropriately.

In conclusion, Buterin’s paper offers a thorough examination of the idea of biometric evidence of personhood, as well as its possible advantages and drawbacks. It presents a fair viewpoint, taking into account both the necessity for major issues to be addressed as well as the potential for these systems to tackle important problems.

Image source: Shutterstock


Tagged : / / / / / /

Worldcoin’s Global Identity Protocol Hits 2 Million Sign-ups

Worldcoin, aiming to be largest identity and financial network, led by chatgpt owner OpenAI CEO Sam Altman, as a public utilityan innovative global identity protocol, has announced a significant milestone, reaching 2 million World ID sign-ups during its beta phase. This  achievement was made possible in less than half the time it took to reach the first million sign-ups, indicating the Worldcoin ecosystem’s quick growth and rising demand.

Participants have signed up from cities all around the world, including Barcelona, Berlin, Buenos Aires, New York, Seoul, and Tokyo. On the project’s worldwide tour, Orbs, Worldcoin’s unique biometric imaging devices, have been made accessible for the first time in these places.

With an average of over 40,000 people signing up for a confirmed World ID every week, Worldcoin has seen amazing growth. In the next months, Orb supply is anticipated to rise in response to this spike in demand.

The World ID protocol is gaining traction among various apps and services. Okta’s Auth0, a global authentication and authorization platform, recently integrated “Sign in with Worldcoin,” making it available to tens of thousands of applications and online services. Additionally, Talent Protocol became the first web3 platform in Europe to integrate World ID.

Worldcoin’s recent achievements build upon its history of significant milestones. The company emerged as the largest deployer of Safe wallets on the Polygon blockchain, successfully onboarding 1.2 million self-custodial Safe Smart Accounts. Furthermore, Worldcoin saw unprecedented growth in Spain, becoming the country’s largest operating market with more than 20,000 individuals signing up for World ID each month.

According to official, Worldcoin’s rapid growth and its mission to address the global identity verification crisis underscore its potential to revolutionize the way we think about digital identity and access to financial services. With its innovative approach and commitment to inclusivity, Worldcoin is poised to continue making waves in the blockchain and cryptocurrency space.


Tagged : / / / / /

ChatGPT Founder’s Worldcoin Sees Unprecedented Growth in Spain with AI Boom

Spain has become Worldcoin’s biggest operating market in Europe, according to a recent tweet of Worldcoin. The tweet claimed that more than 20,000 individuals join up for World ID, Worldcoin’s proof-of-personhood mechanism that protects anonymity, each month. This announcement comes just after Spain made substantial advancements in the growth of its artificial intelligence (AI) sector, placing Spain as a possible new hub for the EU’s AI business.

Sam Altman, CEO of OpenAI and founder of ChatGPT, co-founded the cryptocurrency Worldcoin, which has been making ripples in the industry. In a recent Series C fundraising round headed by Blockchain Capital, the business received $115 million, further consolidating its position as a significant player in the cryptocurrency industry.

Using an AI-safe proof of personhood (PoP) credential, Worldcoin’s World ID is a global identification system that enables users to digitally demonstrate their individuality and humanity.

Since World ID’s launch in Madrid a little more than a year ago, more than 150,000 Spaniards have signed up, with over 20,000 new registrations occuring each month. Due to its quick growth, Spain currently has the EU’s fastest-growing Worldcoin market.

The growth of Spain’s AI industry is the reason for World ID’s development there. Since 2020, Spain has reportedly achieved major strides in the development of its AI industry. Modern technology has made it necessary to determine which internet activity in Spain is related to people and which is not. In this situation, World ID is useful.

Adigital and Tech Barcelona, two of Spain’s most significant technology organisations, have joined Worldcoin’s contributing team at Tools for Humanity (TFH), in addition to extending World ID. This action strengthens Worldcoin’s dedication to promoting technical growth and AI that is human-centric.

The goal of Worldcoin, as stated in their official Twitter profile, is to create the biggest financial and identification network on Earth with everyone having the ownership. It seems they are close to attaining this aim based on the exponential expansion of World ID in Spain.


Tagged : / / / /

Worldcoin Emerges as Largest Deployer of Safe Wallets on Polygon Blockchain, Onboards 1.2 Million Self-Custodial Safe Smart Accounts

Worldcoin, the cryptocurrency project led by Tools for Humanity, has achieved significant milestones in its mission to drive adoption and empower users within the blockchain space. As reported on their official Twitter account, World App has emerged as the largest deployer of Safe wallets on the Polygon(Matic) blockchain. This achievement highlights the platform’s dedication to facilitating secure and self-custodial transactions.

Additionally, a tweet from Worldcoin states that they have successfully onboarded an impressive 1.2 million self-custodial Safe Smart Accounts, further solidifying their position as a key player in the blockchain industry. By providing users with a safe and reliable platform, Worldcoin aims to enhance accessibility and foster trust in decentralized finance.

In another tweet, Worldcoin invites followers to explore their blog post, which focuses on composability within the World App ecosystem. The blog sheds light on the protocols powering Worldcoin’s first wallet and provides valuable insights into the platform’s innovative approach to decentralized finance.

Furthermore, Tools for Humanity, the parent company of Worldcoin, recently announced a noteworthy achievement in fundraising. On May 25, 2023, the company successfully raised $115 million from investors. This influx of capital is expected to fuel the continued development and expansion of Worldcoin’s offerings, allowing them to further solidify their presence within the cryptocurrency landscape.


Tagged : / / / / /

Crypto startup Worldcoin Raises $100m through Token Sales, Worth $3 Billion

Crypto startup Worldcoin is raising $100 million, which owns about $3 billion worth of cryptocurrency tokens in total, according to the report from The Information. - 2022-03-23T172946.142.jpg

Worldcoin raised $100 million from investors, including Andreessen Horowitz, a previous backer, and Khosla Ventures through the sale of its Worldcoin tokens. Their latest funding was raised on Jan 26 from a seed round.

On Oct 21, 2021, Worldcoin raised $25 million at a $1 billion valuation.

Investors include hedge fund Three Arrows Capital, a16z, Coinbase Ventures, Digital Currency Group, crypto fund Multicoin Capital, including angel investor Sam Bankman-Fried, founder of FTX, and LinkedIn co-founder Reid Hoffman.

Worldcoin, founded in 2019, is a new global digital currency that will launch by giving every human on Earth a free share.

Image source: Shutterstock


Tagged : / / / / /
Bitcoin (BTC) $ 38,766.39 0.47%
Ethereum (ETH) $ 2,101.68 0.43%
Litecoin (LTC) $ 71.85 1.05%
Bitcoin Cash (BCH) $ 226.22 0.55%