WLD Plunges 98% from All-Time High... Risks Resurface Due to Altman-Musk Lawsuit

The World Network token World Coin (WLD) has reportedly fallen 98% from its all-time high. Project risks are resurfacing as the legal dispute between co-founder Sam Altman and Tesla CEO Elon Musk continues.

Musk claims that Altman abandoned his promise to run OpenAI as a "non-profit for humanity" and commercially "cashed in" through massive deals with companies such as Microsoft ($MSFT) and Amazon ($AMZN). This lawsuit is aimed at replacing OpenAI's leadership, particularly Altman and Greg Brockman.

WLD drops nearly 3% as jury selection begins

According to reports, Musk voluntarily withdrew the 'fraud' charges against the company on Friday, but the issue was reignited as jury selection began on Monday. It was reported that only Altman attended the court hearing that day, and the price of WLD fell by about 3% on the same day.

The World Network is a global identity authentication project formerly known as 'Worldcoin,' in which Altman was involved in its development through Tools for Humanity. As the core asset supporting this ecosystem, WLD's price has been sensitive to changes in the project's credibility and regulatory environment.

'Iris Scanning' and Regulation Controversy… Criticism Also Raised as “Collection of Biometric Data from Low-Income Countries”

World Network recruits users by scanning their irises through a device called the 'Orb' and paying them WLD in return. The plan is to perform 'human authentication' by issuing IDs linked to biometric information, but it has faced continued scrutiny and criticism from regulatory authorities in various countries regarding personal information, consent procedures, and the scope of data utilization.

ZachXBT, a known on-chain analyst, recently took issue with WLD's "low float" structure, criticizing it as being "similar to the SBF/FTX family." He claimed that the World Network "obtained biometric information by exchanging small amounts of WLD with people in low-income countries," arguing that this resulted in the formation of a "black market for verified accounts."

Transaction and activity metrics have also declined... compounded by pressure on OpenAI's growth

Network metrics are also observed to show a distinct slowdown compared to the peak in 2025. According to World Chain, daily transactions decreased by 73% from 4.7 million in September last year to 1.26 million recently, and daily transaction value plummeted by 99% from $17.67 million (approximately 26 billion won, based on an exchange rate of 1 dollar = 1,473.60 won) to $151,000 (approximately 222.5 million won).

The number of daily active wallets has also recently dropped to 82,700 from a peak of 868,900 in 2025. The Wall Street Journal reported that OpenAI also failed to meet its internal goal of "1 billion weekly active users" for ChatGPT, and conveyed financial concerns that revenue may not grow in time to cover massive spending commitments. The market is paying attention to the fact that the legal battle surrounding Altman could simultaneously trigger OpenAI's IPO plans and regulatory risks for World Network.