Musk says most crypto coins are scams as OpenAI ICO plans surface in court
Elon Musk testified in his lawsuit against OpenAI, stating that most cryptocurrencies are scams while acknowledging some have merit, as past discussions of an OpenAI ICO emerged in court. The trial centers on allegations that OpenAI abandoned its non-profit roots to become a for-profit entity aligned with Microsoft, a shift Musk claims violates the company's founding agreement. Both parties are seeking significant remedies, including leadership changes and over $134 billion in damages, as OpenAI considers a potential IPO.
Opening excerpt (first ~120 words) tap to expand
<img src="https://static.cryptobriefing.com/wp-content/uploads/2026/04/30132758/498fa916-f8da-4c95-8fbb-e2ef88830e25-800x420.jpg" alt="Musk says most crypto coins are scams as OpenAI ICO plans surface in court" class="w-full aspect-[19/10] object-cover" /> Photo: AFP Musk says most crypto coins are scams as OpenAI ICO plans surface in court The case focuses on allegations that OpenAI shifted to a for-profit model after securing funding. Share Add us on Google by Vivian Nguyen Apr. 30, 2026 Elon Musk said most cryptocurrencies are scams during testimony in his lawsuit against OpenAI, where past plans for an ICO also surfaced, as reported by New York Times journalist Mike Isaac.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at Crypto Briefing.
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