"Some of them have merit, but most of them are scams, Musk stated in court, reflecting his critical view of the cryptocurrency landscape amidst his legal battle with OpenAI."
"Musk claims OpenAI stole a charity by breaching their founding contract, while OpenAI contends that Musk was aware of its plans to evolve into a for-profit entity."
"Musk's previous support for cryptocurrencies, including a $1.5 billion Bitcoin purchase by Tesla, contrasts sharply with his recent criticisms during the OpenAI trial."
Elon Musk's relationship with OpenAI has deteriorated, highlighted during his lawsuit against the company. Musk described most cryptocurrencies as scams, despite previously supporting the sector. His comments arose from a question about OpenAI's past plans for a cryptocurrency to fund its operations. Musk claims OpenAI breached its founding contract by pursuing profit, while OpenAI asserts Musk was aware of its potential for-profit evolution. Musk's fluctuating stance on crypto is evident, having previously endorsed it during the pandemic and investing in Bitcoin.
Read at Fortune
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