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.

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. . .

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. . .

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

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