ZachXBT criticizes Worldcoin's tokenomics and insider sales

Prominent on-chain analyst ZachXBT has criticized Worldcoin, a company associated with Sam Altman. He argued that the company launched with a low circulating supply of its WLD token in a manner similar to companies linked to SBF and FTX. ZachXBT stated that Worldcoin collected biometric data from people in low-income countries in exchange for small amounts of WLD. He added that this identity verification technology resulted in a black market for authenticated accounts. Furthermore, he pointed out that the token's supply is increasing at an unsustainable rate, with insiders regularly selling their holdings through over-the-counter deals.