The price of Worldcoin token WLD surged nearly 20% to reach a high of $2.30, as the biometric crypto project reacted to the latest AI-related developments.

On Jan. 21, CBS News reported that U.S. President Donald Trump is set to announce a new AI initiative backed by private sector heavyweights OpenAI, SoftBank, and Oracle. The AI infrastructure investment project, reportedly named Stargate, will focus on advancing artificial intelligence in the U.S. and globally.

The news appears to have jolted World (WLD), formerly Worldcoin, token holders, with the cryptocurrency jumping from lows of $1.90 to an intraday high of $2.30. This rally briefly pushed WLD to the top of the rankings for biggest gainers among the top 200 coins by market cap. 

However, the token quickly pared some of these gains and was trading around $2.12 at the time of writing.

World, developed with contributions from Tools for Humanity, is a crypto project co-founded in 2019 by OpenAI’s Sam Altman. The venture capital-backed proof-of-humanity project has previously rallied on news tied to OpenAI. 

According to CBS News, Stargate will see OpenAI, SoftBank, and Oracle collectively invest an initial $100 billion into the project, with the first major milestone being a state-of-the-art data center in Texas.

The report also stated that Masayoshi Son (SoftBank CEO), Sam Altman (OpenAI CEO), and Larry Ellison (Oracle CEO) are expected to join President Trump at the White House for the official announcement.

A significant SOL options block trade crossed the tape on Deribit via the OTC network Paradigm late Monday, suggesting expectations for a price rally to $400 by the end of February.

The trade, structured as a bull call spread, involved a long position in the $280 call and a simultaneous short position in the $400 call, with 10,000 contracts for each leg and both legs set to expire on Feb. 28, according to block flows tracked by Amberdata. Block trades are large orders usually placed by institutions executed over-the-counter (OTC), outside the exchange’s order book.

A bull call spread achieves its maximum profit when the underlying asset’s price is at or above the short call’s strike price, which is $400 in this case. The buyer is betting that the spread will move past $280, reaching up to $400 with a breakeven around $300, according to Amberdata’s Director of Derivatives, Greg Magadini.

Importantly, the downside risk in a bull call spread is limited to the total premium paid to establish the strategy, protecting the trader from larger losses if the market declines. Currently, SOL is trading at $254 after hitting record highs above $290 over the weekend, as per CoinDesk data.

Ross Ulbricht, founder of the Silk Road darknet marketplace, has been granted a full pardon by President Trump, honoring Libertarian support during his campaign.

Ross Ulbricht, the founder of Silk Road, has been fully pardoned by President Donald Trump. On Jan. 22, Trump announced the pardon on Truth Social, his own social media platform, stating that “in honor of the Libertarian Movement,” which supported his victory in the 47th U.S. presidential election, he had granted Ulbricht his freedom.

Trump also criticized the justice system, referring to those who convicted Ross Ulbricht as “lunatics” and describing his sentence of life imprisonment plus 40 years as “ridiculous.” Ulbricht was sentenced to life without the possibility of parole for his role in creating and operating Silk Road.

Launched in 2011, Silk Road was a darknet marketplace that operated until 2013 and became infamously known as the “eBay for drugs.” It facilitated anonymous transactions of illegal goods and services, primarily drugs, using Bitcoin (BTC).

At the time, Bitcoin was relatively unknown outside of niche computer circles, and Silk Road played a key role in raising public awareness of the cryptocurrency.

In February 2015, Ross Ulbricht, the creator of Silk Road, was convicted for operating the platform. He was sentenced to two life terms in prison for facilitating nearly $183 million worth of illegal drug transactions.

Silk Road was shut down by the FBI in October 2013, following a complex investigation that involved cybercrime experts and undercover agents. The key to the takedown was the identification of Ross Ulbricht, who had been using the alias “Dread Pirate Roberts.”

Authorities were able to trace Ulbricht through his online activity, including mistakes he made in forum threads discussing Silk Road and the use of an email address linked to his real identity.

The breakthrough came when investigators gained access to Silk Road’s servers, which contained a vast array of evidence, including transaction logs and private messages implicating Ulbricht. He was arrested at a San Francisco public library, where FBI agents caught him accessing the platform’s back-end server.

While Ulbricht admitted to building Silk Road, he claimed that by the time of his arrest, he had handed over control of the site and was merely a “fall guy” who took the blame after being discovered.

El Salvador added 12 BTC to its reserves in the past day, ramping up its Bitcoin purchase as the leading crypto asset hovers near its all-time high.

This development comes despite a recent agreement with the International Monetary Fund (IMF) to scale back some of its crypto policies.

Bitcoin Push Continues

The National Bitcoin Office announced via X on January 19th that it had purchased 11 BTC for its Strategic Bitcoin Reserve, which is currently worth more than $1 million. An additional Bitcoin was acquired on the following day for $106,000.

The office’s portfolio tracker further revealed that the country’s total holdings now stand at 6,044 BTC, valued at roughly $620 million, with Bitcoin trading above $103,000.

Last month, President Nayib Bukele’s administration secured a $1.4 billion financing deal with the IMF, agreeing to reduce certain Bitcoin initiatives, including making BTC acceptance optional for businesses and reducing government involvement in the Chivo wallet.

However, the day after this agreement, the Central American country purchased $1 million worth of Bitcoin. National Bitcoin Office Director Stacy Herbert stated on X that the country’s Bitcoin strategy remains unchanged. El Salvador became the world’s first nation to recognize Bitcoin as an official currency following its adoption by the Legislative Assembly in 2021.

Bitfinex and Tether’s Offerings in El Salvador

Last year, Bitfinex Securities launched tokenized US Treasury bills in El Salvador under the country’s new securities regime. The main objective behind the offering was to raise $30 million and provide investors exposure to short-term Treasury bonds through blockchain technology.

More recently, USDT stablecoin issuer Tether announced relocating its business and headquarters to El Salvador after acquiring a Digital Asset Service Provider (DASP) license. The move aligns with El Salvador’s Bitcoin-friendly policies, aiming to foster global Bitcoin adoption and innovation in emerging markets. Tether’s CEO highlighted the country’s supportive environment for digital assets and its vision for financial freedom and decentralized technologies.

The recent launch of the TRUMP and MELANIA tokens, catalyzed by President Donald Trump and First Lady Melania Trump, has ignited a mix of excitement and caution within the memecoin and broader cryptocurrency community. 

This frenzy has caught the attention of billionaire investor Mark Cuban, who is now contemplating the creation of his own memecoin, inspired by the recent memecoin movements.

Cuban’s Memecoin Vision: Combining Fun And Financial Responsibility? 

In a recent social media post, the renowned billionaire opened the door to the possibility of launching a new memecoin, stating, “If memecoins are the way, maybe I’ll issue one.” 

His announcement has stirred curiosity among crypto enthusiasts, particularly as he hinted that his memecoin would mirror the parameters of Trump’s TRUMP memecoin. 

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Cuban plans to implement a 20% float and adhere to a similar release schedule, with one significant distinction: all potential revenue generated from the sale would be directed to the US Treasury. To enhance transparency, Cuban also indicated that the wallet address would be publicly accessible, allowing anyone to track the funds.

Cuban framed his initiative as a way to combine entertainment with a social purpose, noting, “If you want to gamble, gamble. But at least use it to make a dent in the US debt.” 

This statement reflects a growing sentiment among some investors that memecoins can serve a dual purpose—providing both amusement and potential benefits to broader societal issues. However, Cuban’s proposal has not been without its critics. 

Cuban Cites Dogecoin Success

In response to Cuban’s announcement, a user on X (formerly Twitter) cautioned him about the potential pitfalls of launching a memecoin, suggesting that he might be accused of exploiting information asymmetry at the coin’s launch. 

The user stressed that the supposed memecoin’s price would be dictated by supply and demand dynamics, starting from nearly zero, and warned Cuban not to proceed without careful consideration.

Cuban, undeterred by the criticism, defended his understanding of the memecoin landscape, stating, “It’s not hard to put it together. I never have thought about doing a meme coin. Wouldn’t be hard at all.” 

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The back-and-forth dialogue continued, with the user asserting that creating a sustainable memecoin that benefits long-term holders is a challenging endeavor. 

He further argued that successful memecoins often emerge from community-driven initiatives rather than top-down launches, warning that hype surrounding a celebrity-backed launch could lead to short-term trading rather than fostering an organic community.

Cuban concluded the exchange by acknowledging the importance of community in the longevity of memecoins. He cited examples like Dogecoin  (DOGE) and Shiba Inu (SHIB), which have thrived due to their strong communities. 

“I’m not saying buyers won’t get rekt. I said it was gambling. It’s a game of musical chairs. No promises. No pumps by me. Just complete transparency,” he emphasized.

At the time of writing, the TRUMP memecoin is trading at $44,778, recording a 14% recovery in the past 24 hours after plunging over 50% from its $79 peak reached over the weekend. 

Featured image from CNBC, chart from TradingView.com