Elon Musk says most crypto assets are scams in his testimony before OpenAI


The high-profile lawsuit filed by Elon Musk against Sam Altman and OpenAI began earlier this week. Musk accuses Sam Altman of deviating from OpenAI’s nonprofit goals in order to achieve commercial gains. He also criticized Zeck XBT, a prominent blockchain technology investigator, for Worldcoin (now known as World), which is associated with Sam Altman, and compared its practices to the scam carried out by Sam Bankman-Fried on the FTX platform.
During his testimony in the OpenAI case, Elon Musk described most digital assets as scams. Fortune magazine quoted Musk as saying, “Some digital assets have value, but most are scams.” The statement comes in response to questions about OpenAI’s 2018 plan to issue digital tokens through an initial coin offering (ICO) to fund its nonprofit operations.
It is worth noting that Tesla owns 11,509 Bitcoin, while SpaceX owns 8,285 Bitcoin, according to Arkham data. The total value of its Bitcoin holdings is approximately $1.54 billion. Elon Musk remains committed to Bitcoin and Dogecoin (DOGE).
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