- AlphaPacked — Daily Crypto Newsletter
- Posts
- Elon Musk Blocked OpenAI Token Launch
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:
- 🔜 "movement mainnet imminent" - Movement Labs Co-Founder
- 🪂 Sui Name Service launches $NS airdrop.
- ⚖️ 18 US States sue the SEC for overreach & unfair persecution.
- 💰 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
Top stablecoin yield farms of the day, more than $3,000,000 in TVL. DYOR and step up your farming game!
PROTOCOL | ASSETS | APY |
---|---|---|
Tangible Arcana (Re.al) | ARCUSD | 268.03% |
Avantis (Base) | USDC | 73.72% |
Curve DEX (Ethereum) | IDAIIUSDCIUSDT | 68.41% |
Indigo (Cardano) | IUSD | 53.57% |
Merkle Trade (Aptos) | ZUSDC | 39.63% |
Cetus AMM (Sui) | USDTWUSDC | 34.01% |
Turbos (Sui) | USDTUSDC | 31.49% |
Synthetix V3 (Base) | USDC | 29.21% |
🟢 Polynomial Superchain Is Live |
Trade 2.0: Polynomial recently introduced Trade 2.0, their flagship decentralized leverage trading platform offering gasless trading, cross-margin capabilities, and more. $BTC, $ETH, $SOL, $PEPE, $WIF, $SUI, and $AAVE markets are live with more markets coming soon!
Trading Points: Polynomial distributes 1,000,000 trading points daily! Allocation of trading points is based on factors such as trading volume, OI rebalancing, or [redacted].
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.
That’s it for today’s edition! See you soon.
Reply