• 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

Whale Accumulation Signals Potential Market Shift for LINK

chest

Intensified whale activity and increased open interest in LINK futures suggest a potential market shift for LINK.

user avatarMaria Gutierrez

HUGS Presale Offers Transparency and Predictability

chest

HUGS presale model offers transparency and predictability through a structured 40-stage process, helping investors manage market volatility.

user avatarAndrew Smith

Milk Mocha HUGS Presale Launches with Stage 1 Advantage

chest

The presale for Milk Mocha HUGS has begun, offering early buyers a significant advantage in potential returns.

user avatarDavid Robinson

Athena Shows Potential but Needs Execution

chest

Athena has attracted interest with its ambitious roadmap but struggles with execution and market support.

user avatarJacob Williams

Aptos Maintains Steady Progress in Layer1 Technology

chest

Aptos focuses on scalability and efficiency, backed by ex-Meta engineers and the Move programming language. Priced around $2.54, it emphasizes its technical integrity and reliability, making it a solid entry among potential cryptos for 2025.

user avatarZainab Kamara

Bitget Token Strengthens Its Position Through Exchange Utility

chest

Bitget Token maintains steady growth, driven by expanding utility within the Bitget ecosystem.

user avatarAyman Ben Youssef

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.