• 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

Optimism Implements Safety Mechanisms for OP Token Buybacks

chest

The Optimism governance community has incorporated safety mechanisms into the OP token buyback framework to manage downside risk.

user avatarEmily Carter

Revenue from Superchain Ecosystem to Fund OP Token Buybacks

chest

Revenue from sequencer fees in the Superchain ecosystem will fund the OP token buyback program.

user avatarRajesh Kumar

Optimism Governance Approves Major Change to OP Token Economic Model

chest

The Optimism governance community has approved a significant change to the economic model of OP tokens, voting to allocate 50% of net protocol revenue towards recurring buybacks.

user avatarLucas Weissmann

Optimism to Launch 12-Month Pilot Program for OP Token Buybacks

chest

Optimism has announced a 12-month pilot program for OP token buybacks starting in February 2026, using half of net sequencer revenue for recurring repurchases.

user avatarFilippo Romano

Binance WOTD Event Features Stablecoins Theme and Rewards

chest

Binance's Word of the Day (WOTD) event from January 26 to February 1, 2026, focuses on Stablecoins, allowing participants to guess related words for points and rewards from a 500,000 BNB prize pool.

user avatarLeo van der Veen

Binance Introduces Daily Vocabulary Challenge for Crypto Enthusiasts.

chest

On January 30, 2026, Binance launched its Word of the Day (WOTD) event, inviting the crypto community to enhance their vocabulary while participating in a fun guessing game.

user avatarTomas Novak

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.