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25th July 2023 > > WLD (Worldcoin).


tl;dr

WLD still looks like a scam to me.


Market Snap








Market Wrap

US 2s-10s are inverted by 98bps all but guaranteeing a recession in the early part of next year. Meanwhile futures prices show a near 99% certainty of a 25bp hike in US interest rates tomorrow. This is madness. It demonstrates that the abrogation by today’s politicians of responsibility for policy making decisions to so-called experts who are simply career bureaucrats – and who have never made a timely decision in their entire working lives – is a huge mistake of breathtaking proportions.


BTC briefly crashed through $29k to the downside following reports of large exchange inflows, which are seen as an indicator of increased selling pressure in the short-term.


Curious Cryptos’ Commentary – Russia

Russian President Putin has signed into law a bill for a Ruble CBDC (Central Bank Digital Currency):



The most enthusiastic proponents of CBDCs are autocratic states such as China and Russia. It is claimed that Russia’s CBDC “… will be programmable to implement certain transaction limits, and restrictions on what citizens can spend their money on” according to CryptoPotato.


Why are the UK and the EU trying to follow the same path into a dystopian future of government coercion and control?


Curious Cryptos’ Commentary – WLD (Worldcoin)

WLD has garnered a lot of press attention, and not just in the crypto world.


Most UK newspapers have run articles, usually in glowing terms. And the presence of Sam Altman, CEO of ChatGPT as a leading figure in Tools for Humanity who launched the Orb and WLD, certainly adds gravitas to the project.


So, what of the warning yesterday by the CCC that WLD may be a scam?


The justification for WLD, and its prime objective, is to provide everyone in the world with UBI (Universal Basic Income). This isn’t the first crypto project to address this issue. GoodDollar (G$) (https://www.gooddollar.org/) has tried the same thing. I was involved perhaps four or five years ago now, but I couldn’t see any real-life uses for it. G$ is still around, so perhaps I should revisit that conclusion of mine.


Finally launched yesterday, the 2mm people (not the 500,000 we reported yesterday) who have had their iris scanned by the Orb received one WLD coin, currently trading at around $2 with a mightily impressive $650bn of turnover in the last twenty-four hours.


How did they achieve this? WLD was listed yesterday on Binance, KuCoin, OKX, Bybit, Gate.io, Poloniex, Huobi, Bitget, MEXC, LBank, BitMart, and plenty of other minor centralised cryptocurrency exchanges.


Which is remarkable.


Tools for Humanity state that approximately 100mm coins have been allocated (for free) to “market-makers”. In this case I think their terminology is wrong. They mean brokers i.e. the centralised exchanges listed above. Bribery gets a coin listed, which is why Coinbase is the notable absentee.


So, why do I think this might be a scam?


That malicious site warning from yesterday is a massive red flag.


Bribing CEXs to list is a massive red flag.


Issuing just 1% on launch is a massive red flag.


Lauding oneself as a force for humankind’s good (see also SBF and FTX) always gets the sceptic in me going.


Anyways, you pay your money, and you make your choice. But I am out.


If you wish for a deep dive into the background of the Orb and WLD, I recommend this piece:


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