Worldcoin Denies Insider Trading, Commits to Zero Tolerance Policy

Worldcoin, a pioneering human identity project, has forcefully denied recent allegations of insider trading. The organization emphasized its strict “zero tolerance” policy towards any such activities. 

On July 17, DeFi Squared, a decentralized finance insights account, raised concerns about possible price manipulation of the Worldcoin token. 

The allegations gained further traction when pseudonymous crypto investigator ZachXBT joined the fray. ZachXBT accused Worldcoin of enabling insiders to profit from a “scam token.” The platform claimed that team members and venture capitalists were involved in “the biggest scam token of the bull run.”

According to a recent report, a Worldcoin spokesperson issued a strong denial in response to these serious accusations. The spokesperson emphasized that the Worldcoin Foundation and its contributing organization, Tools for Humanity, take any allegations of insider trading very seriously, even if these claims are unfounded.

Worldcoin stressed its commitment to maintaining strict market integrity policies to prevent unethical trading practices. The report added that, after a thorough investigation, no evidence was found to support claims of insider trading or price manipulation.

The report further clarified that individuals covered by their policies are prohibited from disclosing confidential information relevant to WLD purchasing decisions. Additionally, during the period in question, these individuals were subject to an active blackout period, preventing them from engaging in any WLD trading activities.

These allegations surfaced as Worldcoin decided to delay the unlocking of 80% of its WLD supply by two years. On July 16, Tools for Humanity announced in a blog post that the unlock period for tokens held by team members and investors would be extended. As of press time, WLD is trading at $2.28, showing a 7.93% decline in the past day and a 1.76% upward movement in the last week. 

Worldcoin remains steadfast in its commitment to transparency and market integrity, ensuring that all trading activities are conducted fairly and ethically. The organization continues to focus on its mission, undeterred by these recent allegations.