Worlcoin (CRYPTO: WLD) topped the cryptocurrency market gainers list Wednesday on developments surrounding the project's founder, Sam Altman.

What happened:  WLD, the native currency of the decentralized identity verification project was up more than 10% as of this writing, with the cryptocurrency's trading volume surging 83% in the last 24 hours. 

The coin's rally starkly contrasted with the retreat made by blue-chip cryptocurrencies like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), both of which traded in the red.

The upswing came after news surrounding ChatGPT-maker OpenAI’s transition from a non-profit to a for-profit model became public. The company’s CEO Altman was set to receive equity, according to a report.

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Why It Matters: Sam Altman launched the Worldcoin project last year amid significant media attention.

The project collects people's irises to authenticate their humanness and creates a digital ID, thereby making them eligible to receive free WLD tokens.

However, the project has faced persistent issues over concerns around personal data privacy. The project has been banned in Hong Kong, Kenya, and Spain.

Government scrutiny has severely restricted WLD's growth, with the coin falling 43% since the year began.

Price Action: At the time of writing, WLD was exchanging hands at $2.07, up 10.62% in the last 24 hours, according to data from Benzinga Pro. 

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