Why Did Worldcoin (WLD) Price Pump on Wednesday?

Those gains leveled out some by mid-afternoon US Central Time. Worldcoin’s WLD tokens were the tallest green candle for the day on Wednesday, with a 12% daily surge.

Hyperliquid’s HYPE (8.6% gains) and Raydium’s RAY (8% gains) were the second and third most bullish tokens for the day. A few places down on the leaderboard was Fartcoin. Traders probably don’t want their Hyperliquid anywhere near that.

So why was the Worldcoin price pumping on Wednesday?

Why Did Worldcoin Price Pump on Wednesday?

President Donald Trump announced in a press conference on Tuesday that he wants the government to make a $500 billion grant in an AI project led by OpenAI.

Of course, OpenAI is doing more than large language models with ChatGPT. In fact, its Worldcoin project may be more ambitious. OpenAI founder Sam Altman plans to dominate biometrics with cryptographically secured iris scans. The project pays participants in WLD tokens.

On Tuesday, Trump announced he wants the government to invest $500 billion in a new OpenAI project called Stargate, so the artificial intelligence sector can go on a hiring spree.

That statement probably had something to do with this cryptocurrency’s big moves on Tuesday and Wednesday. But investors should be wary about a thing or two related to this trade.

DOGE-Loving Musk Opposes Gov Grant

To begin with, Stargate and Worldcoin are not exactly the same thing, and they are only loosely related through OpenAI. So, an investment in Worldcoin at this time may be more based on the recent news cycle than long-term market leverage.

Moreover, Elon Musk, the key influence in the new White House other than the president himself, opposes the newly announced plans to invest $500 billion in a project led by OpenAI. So, these plans may not come to fruition.

“They don’t actually have the money,” Musk wrote in a post on X. “SoftBank has well under $10B secured. I have that on good authority.” A grant from the White House of that size to a single private company would certainly be questionable on the grounds of government efficiency.

Worldcoin isn’t the only splash the White House has made in cryptocurrency this week. Dogecoin’s price erupted 15% within minutes Tuesday after the website for the Department of Government Efficiency went live. Meanwhile, analysts are rife with bullish Dogecoin predictions.