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Tesla CEO Elon Musk reportedly dismissed OpenAI CEO Sam Altman’s idea to launch a cryptocurrency token in 2018, citing concerns over its potential to damage its reputation.&nbsp; 
This was revealed in a court filing submitted to the U.S. District Court for the Northern District of California on November 14.&nbsp;&nbsp; 
Musk’s lawyers stated that Altman had proposed an Initial Coin Offering (ICO) for OpenAI, which would involve selling its cryptocurrency. The <a href="https://storage.courtlistener.com/recap/gov.uscourts.cand.433688/gov.uscourts.cand.433688.32.0_1.pdf" target="_blank" rel="noreferrer noopener nofollow">filing</a> described the idea as “scamworthy,” adding that Musk immediately rejected it.&nbsp; 
“It would simply result in a massive loss of credibility for OpenAI and everyone associated with the ICO,” Musk reportedly said.&nbsp;&nbsp; 
The ICO proposal came shortly 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 model. Musk opposed the idea, warning Altman and Brockman to either stick to the nonprofit mission or pursue their ventures.&nbsp;&nbsp; 
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.&nbsp;&nbsp; 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
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</blockquote>

Elon Musk Dismissed OpenAI ICO Idea in 2018

The Crypto Times

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