Summary
- Elon Musk said some cryptocurrencies have value, but most are a scam.
- Markets are watching how the past actions and remarks of Musk, OpenAI, and Sam Altman could affect perceptions of cryptocurrencies and regulatory discussions.
- OpenAI has claimed that Musk was aware of an ICO-based fundraising plan and the possibility that the organization could transition to a for-profit company.
Forecast Trend Report by Period
Elon Musk renewed his criticism of the cryptocurrency market, saying some digital assets have value while casting a broadly negative view on the sector.
Musk testified at a trial in an Oakland court on May 30 that “some cryptocurrencies have value, but most are a scam,” Fortune reported.
He made the remark while answering a question about whether OpenAI had previously considered an initial coin offering, or ICO, to raise funds.
Musk, an OpenAI co-founder, is known to have been involved in those discussions.
OpenAI, meanwhile, has argued that Musk supported a plan to raise money through an ICO and was aware the organization could eventually convert into a for-profit company.
OpenAI Chief Executive Officer Sam Altman also participated as a co-founder of Worldcoin when the token launched in 2023.
Markets are watching whether the dispute over the remarks and past actions of key figures will influence views on cryptocurrencies and the broader regulatory debate.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
