BlockBeats news, on April 30, according to Fortune magazine, Musk's relationship with Sam Altman and OpenAI is well known to have deteriorated. His deposition testimony in the lawsuit against the AI company also reveals a similar cooling of his attitude toward cryptocurrency.
At a court hearing in Oakland on Wednesday, when asked to explain cryptocurrency, Musk said: “Some of them have value, but most are scams.” The comment was relayed by New York Times reporter Mike Isaac on social media.
This comment stems from a question about OpenAI’s brief consideration in 2018 of raising funds through an initial coin offering (ICO). At the time, OpenAI was a nonprofit organization. The details of this proposed ICO are part of the ongoing legal disputes between Musk and OpenAI regarding the company’s mission.
Musk is one of the co-founders of OpenAI (involved in its founding in 2015), and he has accused the company of violating its original founding agreement after entering into an investment deal with Microsoft and beginning to sell commercial products. In court, Musk claimed that OpenAI “misappropriated a charity.”
OpenAI responded that Musk had always been aware that the organization might eventually transition into a for-profit entity. In a blog post, the company stated that Musk had supported OpenAI’s plan to raise funds through an initial coin offering (ICO), a plan that inherently involved establishing a for-profit subsidiary.