• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Elon Musk Rejected Cryptocurrency Proposal from OpenAI

user avatar

by Giorgi Kostiuk

a year ago

Tesla CEO Elon Musk rejected OpenAI CEO Sam Altman's proposal to launch a cryptocurrency, citing concerns over the company's reputation.

Altman's ICO Proposal for OpenAI

According to a court filing submitted to the U.S. District Court for the Northern District of California on November 14, Sam Altman suggested an Initial Coin Offering (ICO) for OpenAI to sell its cryptocurrency. The filing described the idea as “scamworthy,” with Musk immediately rejecting it.

It would simply result in a massive loss of credibility for OpenAI and everyone associated with the ICO.Elon Musk

Controversy Over OpenAI's Transformation

The ICO proposal came after another controversial suggestion from Altman and OpenAI President Greg Brockman. In 2017, they urged Musk to transition OpenAI from a nonprofit to a for-profit organization. Musk opposed the idea, warning them to either stick to the nonprofit mission or pursue their own ventures.

Consequences and Musk's Decisions

Musk had also threatened to stop funding OpenAI unless the team committed to remaining a nonprofit. Despite this, Altman and Brockman allegedly began working on a plan to restructure OpenAI into a for-profit organization.

Musk's decision to reject Altman's proposal reflects his priority on maintaining OpenAI's reputation and adherence to its original nonprofit mission.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Trump's $51 Million Bond Investments Raise Conflict of Interest Concerns

chest

Trump's financial disclosure reveals at least $51 million in municipal and corporate bonds, raising conflict of interest concerns.

user avatarMaya Lundqvist

Chainlink Crypto Maintains Support Despite Resistance

chest

Chainlink crypto shows signs of selective accumulation during pullbacks, but faces resistance near 14. Overall outlook remains cautious with downside risk closer to 12.90.

user avatarLeo van der Veen

Hedera Network Upgrades Drive Stable Interest in HBAR

chest

Hedera's recent mainnet upgrades have kept HBAR trading steadily, reflecting ongoing interest from traders.

user avatarLi Weicheng

Cardano Partners with Grant Thornton for New Financial Audit

chest

Cardano Foundation has partnered with Grant Thornton to launch a comprehensive financial audit to enhance transparency and accountability in the finance sector.

user avatarAisha Farooq

Community Backlash and Regulatory Interest in AI Deepfakes

chest

The recent emergence of AI-generated deepfake videos featuring the cast of Stranger Things has led to significant community backlash, particularly due to the lack of an official response from Netflix. Fans have expressed their dissatisfaction, labeling the videos as creepy and disturbing. This situation has prompted discussions about the ethical implications of AI in content creation and has raised calls for regulatory action.

user avatarTenzin Dorje

BlockDAG Challenges Solana and Avalanche in Scalability

chest

BlockDAG enters the blockchain space with a unique approach to scalability, raising significant funds in its presale.

user avatarBayarjavkhlan Ganbaatar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.