In a federal courtroom that smells vaguely of coffee and old ledgers, the witness stand turns into a stage, and Elon Musk lumbers forth as if auditioning for a poet of profits. He does not mince the truth when the topic is crypto, and mince, alas, is a spice not kept in his cupboard.
During his testimony in a high-stakes quarrel with OpenAI, the centibillionaire and self-styled “Dogefather” speaks as if delivering a sermon to a congregation of calculators: most cryptocurrencies, he proclaims, are, in fact, scams-specters with gleaming halos that evaporate the moment you reach for your wallet.
According to the courtroom scribe Mike Isaac of the New York Times, Musk’s remarks rose from the ashes of early emails showing that OpenAI once toyed with an initial coin offering to fund the enterprise. In those days, the fashionable spectacle of ICOs glittered like a carnival prize, and everyone pretended it would change the world, if only the world had time to read the fine print by candlelight.
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A fickle crypto advocate
Musk’s affair with cryptocurrency has the fickleness of a weather-vane stuck in a windy square. It swings between suspicion and ardor with the dramatic flair of a provincial playhouse. His first utterances on crypto were a muddle, yet he soon galloped into the arena, championing Dogecoin with the zeal of a parade drum. In April 2019, he declared, “Dogecoin might be my fav cryptocurrency. It’s pretty cool.” By late 2020, a single tweet from the man could coax a coin to rise as if by magical telegraph. In February 2021, Tesla astonished the world by revealing a $1.5 billion Bitcoin purchase. In May 2021, however, the same Musk paused Bitcoin payments with the seriousness of a magistrate. And so he wore the crown of “The Dogefather,” raffling more hype at every weekend’s televised spectacle. In August 2024, they even won the dismissal of a federal suit accusing them of deceiving investors and manipulating Dogecoin’s price, a victory that smelled of victory and laundry powder.
A high-stakes trial
The trial Musk v. Altman et al. is a beast with claws that could gnaw OpenAI’s grandiose plan for a potential $1 trillion IPO and perhaps redraw the map of the entire artificial intelligence empire. Musk, who in 2015 lent OpenAI roughly $38 million to give the project a start, now sues the company, its CEO Sam Altman, and President Greg Brockman. He alleges that OpenAI has cunningly morphed into a for-profit “wealth machine” rather than the nonprofit savior of humanity it was supposed to be. He asks for $150 billion in damages and demands that OpenAI’s corporate fabric be returned to its original nonprofit form, like a cloak ripped from a showman’s back.
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2026-05-01 09:47