Elon Musk Blocked OpenAI Token Launch

💸 Musk Rejected OpenAI's ICO Plans

OpenAI's ICO Proposal Blocked: In early 2018, Elon Musk stopped OpenAI founders Sam Altman and Greg Brockman from launching a token. Musk argued that an ICO would damage OpenAI’s credibility, a concern outlined in new court filings.

Funding and Company Shift: OpenAI, initially non-profit, considered the ICO to secure funds. Musk, who had invested $44M and suggested merging OpenAI with Tesla, disagreed and exited in 2018. OpenAI later turned to a for-profit model for funding.

Legal Tensions and Accusations: In August 2023, Musk sued OpenAI’s founders and Microsoft, citing fraud and unfair competition. OpenAI countered, expressing disappointment over Musk's departure and rival firm, xAI. Read More.

️ On today's Top Picks:

  1. 🔜 "movement mainnet imminent" - Movement Labs Co-Founder
  2. 🪂 Sui Name Service launches $NS airdrop.
  3. ⚖️ 18 US States sue the SEC for overreach & unfair persecution.
  4. 💰 Portal Ventures raises $75m crypto fund.

Read time: ⏰ 8 minutes


Crypto News


• ⭐️ OpenAI's proposed initial coin offering rejected by Elon Musk.

South Korea FSC investigates Upbit for KYC violations.

Delhi Police IFSO arrests man in connection with ~$235m WazirX hack.

Bitfinex Hacker Ilya Lichtenstein sentenced to five years in prison.

Tether launches Hadron by Tether, an asset tokenization platform.

Dogecoin $DOGE investors withdraw appeal & legal motion against Elon Musk.

Ripple $XRP class action lawsuit moves to final judgement.

ZKsync $ZK governance approves Ignite Program proposal; 325m $ZK to be distributed to ZKsync protocols.

Ethena $ENA risk committee approves proposal to enable fee switch; activation by November 30th.

Safe $SAFE teases Safenet; to announce more details on December 3rd.

Crypto[.]com $CRO acquires Fintek Securities, a licensed Australian brokerage.

Caldera acquires Hook Protocol; development team to join Caldera.

Alpha


Consensys launches sovz[.]xyz, a project inviting everyone to declare their personal sovereignty.

Fuel cut-off for migrating Fuel Points Phase 1 assets from Ethereum to Fuel Ignition is November 22nd.

Mezo posts "MATSNET INITIALIZATION ██████▒▒▒ [69%]..." on X.

Eclipse launches AOFE NFT mint for those who burned it on Ethereum Mainnet.

• ⭐️ Movement Labs Co-Founder Rushi Manche posts "movement mainnet imminent" on X.

Usual $USUAL launches on Binance Launchpool until November 18th.

Gasp launches Gasp V3 Testnet; final testnet before mainnet launch.

Pirate Nation $PIRATE launches Season 3; features new leaderboards, new BOOTY ranks, & more.

Notable Projects Roadmap by LayerGG.

Upcoming TGEs, Listings, & Releases by ICO Analytics.

Airdrops


Weekly Airdrop Updates by Earndrop.

Arkham Airdrop Strategy by Earndrop.

Usual to launch $USUAL airdrop in mid-December.

Caldera introduces Caldera Foundation; to launch $ERA soon.

• ⭐️ Sui Name Service launches $NS airdrop.

Enjoy extends $ENJOY Airdrop 2 Season 6 until November 25th.

Guild posts "bounty hunters, snapshot is done.." on X.

ICYMI ink Airdrop Strategy by Earndrop.

Finance News


US Federal Reserve Chair Jerome Powell says it does not need to rush to cut interest rates.

• ⭐️ 18 US States sue the SEC alleging unconstitutional overreach & unfair persecution of crypto.

US State Of Pennsylvania introduces legislation enabling the state to hold Bitcoin on its balance sheet.

The Royal Government of Bhutan sells ~$33m of Bitcoin; still holds ~$1b of Bitcoin.

Goldman Sachs $GS discloses $710m of Bitcoin ETF holdings.

Bitfarms $BITF upgrades Bitcoin miners from Bitmain for $33.2m.

Greenidge Generation Holdings $GREE Bitcoin mining facility to remain operational after court ruling.

Solidion Technology $STI to purchase Bitcoin with 60% of excess cash.

US Government investigates Citigroup $C for ties to sanctioned Russian billionaire.

Security and Exploits


ICYMI DeltaPrime messages attacker following ~$4.75m exploit.

ICYMI Microsoft releases November 2024 security updates for Windows.

ICYMI Inferno Drainer moves Ethereum through Tornado Cash; potentially cashing out after selling operations to Anger Drainer.

ICYMI Tor faces ongoing attack; unknown attacker spoofing IP addresses of Tor relays causing widespread disruptions.

ICYMI US FBI reveals emergency data requests are being exploited to access sensitive user data.

Token Unlocks


• EigenLayer $EIGEN / ~$3m / NOV 12th
• Render $RENDER / ~$3m / NOV 13th
• Ethena $ENA / ~$8m / NOV 13th
• Axie Infinity $AXS / ~$4m / NOV 13th
• Cyber $CYBER / ~$4m / NOV 13th
• Polyhedra $ZKJ / ~$20m / NOV 14th
• Moonwell $WELL / ~$3m / NOV 14th
• Cyber $CYBER / ~$8m / NOV 14th
• Starknet $STRK / ~$31m / NOV 15th
• Nervos $CKB / ~$17m / NOV 16th
• Cardano $ADA / ~$13m / NOV 16th
• Arbitrum $ARB / ~$57m / NOV 16th
• Echelon Prime $PRIME / ~$6m / NOV 17th
• ApeCoin $APE / ~$17m / NOV 17th
• Avalanche $AVAX / ~$55m / NOV 18th
• Oasis $ROSE / ~$14m / NOV 18th
• Pixels $PIXEL / ~$11m / NOV 19th
• EigenLayer $EIGEN / ~$3m / NOV 19th
Sourced from Tokenomist


Funding


• ⭐️ Portal Ventures raises $75m crypto fund.

Wyden raises $16.9m in Series B funding led by Truffle Capital.

Folks Finance raises $6.2m in Seed & Strategic funding led by Borderless.

Heurist raises $2m in Pre-Seed funding.

Pulse raises $1.8m in Pre-Seed funding led by Collab+Currency & Lemniscap.

Thetan World raises an undisclosed amount in funding from Avalanche Blizzard Fund.

Prosper raises an undisclosed amount in funding from BIT Mining Limited.

The Degen Farmer

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PROTOCOLASSETSAPY
Tangible Arcana logoTangible Arcana (Re.al)ARCUSD268.03%
Avantis logoAvantis (Base)USDC73.72%
Curve DEX logoCurve DEX (Ethereum)IDAIIUSDCIUSDT68.41%
Indigo logoIndigo (Cardano)IUSD53.57%
Merkle Trade logoMerkle Trade (Aptos)ZUSDC39.63%
Cetus AMM logoCetus AMM (Sui)USDTWUSDC34.01%
Turbos logoTurbos (Sui)USDTUSDC31.49%
Synthetix V3 logoSynthetix V3 (Base)USDC29.21%
. . .

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Trading Fest🟢: From October 1st to December 31st, Polynomial will distribute 150,000 Optimism $OP tokens to traders on Polynomial trade. In addition, traders can earn other token rewards, a chance to win exclusive NFTs, and more surprises that will be shared soon.

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. . .

That’s it for today’s edition! See you soon.

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