#DeFiLossesTop600MInApril


Elon Musk Says Most Crypto Assets Are a Scam, but X Launches New Crypto Trading Terminal

Elon Musk told a jury in Oakland that most cryptocurrencies are scams while testifying in a civil case against OpenAI, marking a significant shift from his long-standing position as one of the sector's vocal supporters.

Tesla and SpaceX CEO made this statement when asked about OpenAI's 2018 plans to raise funds through an initial coin offering (ICO), according to a report by New York Times journalist Mike Isaac.

Sharp Turn from Vocal Crypto Advocate

Musk, during 2020 to 2021, moved markets through tweets and corporate purchases. Tesla bought Bitcoin
BTCUSD
worth $1.5 billion in 2021, becoming one of the first major public companies to hold crypto assets on their balance sheet.

Musk's posts about Dogecoin
DOGEUSD
repeatedly pushed the meme coin's price to new all-time highs that same year. The billionaire also previously confirmed he owns Bitcoin, Ethereum
ETHUSD
, and Dogecoin in various interviews.
#GateSquareMayTradingShare
BTC0.27%
DOGE-1.04%
ETH-0.04%
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