ChatGPT Creator Plans to Raise $100M for His Crypto Project

Article Reading Time:
2 minutes.

OpenAI CEO Sam Altman plans to raise around $100 million in funding to finance his cryptocurrency project Worldcoin.

According to three people with knowledge of the matterdeal, Sam Altman is in advanced talks to raise cash as he prepares to launch Worldcoin in the next few weeks.

The group includes both existing andnew investors, one of the sources said. The company's previous investors include Khosla Ventures and crypto fund Andreessen Horowitz, as well as FTX founder Sam Bankman-Fried and internet entrepreneur Reid Hoffman.

Altman plans to use the technologyscanning the eyeball to create a global identification system that can be used to gain free access to Worldcoin, its own global currency.

Worldcoin has come under criticism for a number of reasonsissues, primarily because biometric scanning poses privacy risks. The company's website claims that the company will not store iris scans and that the device will not harm users' eyes.

Previously, Worldcoin presentedcrypto wallet application of the same name. The wallet will initially support the World Coin and Ethereum ecosystems. The World App mobile application for wallet is already available for download  in the App Store and Google Play. World Coin is available in more than 80 countries.

Recently owned by an American companyPayPal payment service Venmo, which has more than 60 million clients in the US alone, said it will add the ability to make cryptocurrency transfers.