Loading...
According to Fortune magazine, Musk stated at the OpenAI hearing that some cryptocurrencies make sense, but most are scams. The statement originated from a court inquiry into OpenAI's 2018 ICO financing plan. OpenAI stated that Musk supports the plan to raise funds through an ICO, which involves establishing a for-profit subsidiary. Musk once led Tesla to spend $1.5 billion to purchase Bitcoin, but Tesla sold 75% of its holdings in mid-2022.