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CDS Crypto News Regulatory Rumble: Worldcoin’s Rise to 10 Million Users Despite Pressure

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Regulatory Rumble: Worldcoin’s Rise to 10 Million Users Despite Pressure

Worldcoin, the crypto venture co-founded by Sam Altman of OpenAI, has achieved a significant milestone. Tools for Humanity (TFH), the entity behind Worldcoin, proudly declared on April 11, 2024, that their World App wallet has surpassed 10 million users.

Ecem EFE12/04/20241 Mins read432

Regulatory Rumble: Worldcoin'S Rise To 10 Million Users Despite Pressure

Crypto News- Despite regulatory hurdles, Worldcoin’s World App is on a meteoric rise, showcasing rapid user adoption that underscores its global impact. Launched just last May, the app has skyrocketed to 4 million downloads by November, spreading its reach across 160 countries. With a staggering 70 million wallet transactions and 2 million daily active users, the World App stands as a beacon of accessibility and usability.

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Regulatory Rumble: Worldcoin’s Rise to 10 Million Users Despite Pressure

Tiago Sada, Head of Product at TFH, reflects on this journey, emphasizing that the significance goes beyond mere numbers. “It’s about the tangible difference we’re making,” Sada remarks, highlighting the app’s real-world impact.

Building Success: Worldcoin’s World App and the Ethereum Foundation

The success of the World App is underpinned by years of groundwork on Ethereum’s infrastructure, now seamlessly integrated and user-centric. Moreover, Worldcoin’s website proudly announces nearly 5 million sign-ups on its World ID platform, indicating a surging interest.

However, amidst these triumphs lurk regulatory shadows. Recent actions by authorities in Kenya, Spain, and Portugal have called for a halt to Worldcoin’s operations within their borders, citing concerns over biometric data collection practices.

While the World App paints a picture of prosperity, the financial performance of Worldcoin’s native token, WLD, tells a different tale. With a 3% decrease over the past week, WLD trades at $6.51 at the time of reporting, signaling a tumultuous journey ahead amidst regulatory turbulence.

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Ecem EFE

Since 2022, Ecem has been creating digital content, combining her passion for technology with writing. Continuing her education in the Mathematics department, Ecem focuses on producing in-depth content on areas such as blockchain, artificial intelligence, and cryptocurrency. She aims to simplify these topics and present them to a wide audience, sharing valuable insights into the crypto industry through her writing. With her innovative content, she strives to raise awareness in the digital world.