Elon Musk Rejected OpenAI's ICO Proposal in 2018, Lawsuit Reveals

Elon Musk's lawsuit against OpenAI has unveiled new details about the company's early considerations for an initial coin offering (ICO) in 2018

Elon Musk's lawsuit against OpenAI has revealed that the company considered launching an initial coin offering (ICO) in 2018. According to court filings, Musk ultimately rejected the proposal over concerns about its impact on OpenAI's credibility and mission as a non-profit organization.

Emails included in the filing show Musk explicitly stating, “I have considered the ICO approach and will not support it. In my opinion, that would simply result in a massive loss of credibility for OpenAI and everyone associated with the ICO.”

OpenAI's safety team also raised concerns about the ICO, with Sam Altman noting in an email to Musk that there were “a lot of concerns about the ICO and possible unintended effects in the future.”

The details emerged in a 107-page amended complaint filed in federal court in Oakland, California. The lawsuit, which now includes Microsoft, LinkedIn co-founder Reid Hoffman, and former OpenAI board member Dee Templeton as defendants, alleges that OpenAI abandoned its non-profit mission.

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