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Elon Musk 'shot down' OpenAI's ICO plan in 2018 over credibility concerns

Elon Musk rejected OpenAI CEO Sam Altman’s 2018 proposal for an ICO, warning it would harm the company’s credibility, according to recent court filings. This followed Musk’s earlier opposition to OpenAI’s shift from a nonprofit to a for-profit model in 2017, prompting him to halt funding. Musk sued OpenAI in February 2023, alleging violations of its nonprofit commitments, renewing the lawsuit in August. Altman and Greg Brockman allegedly pursued for-profit fundraising after Musk’s withdrawal. Separately, a 2022 class-action lawsuit accusing Musk of manipulating Dogecoin’s price was withdrawn on Nov. 14.

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