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On November 14, 2024, a revised court filing revealed that Elon Musk claimed to have vetoed OpenAI's initial coin offering (ICO) plan in 2018. Musk's legal team asserted that OpenAI's co-founders, Sam Altman and Greg Brockman, had considered launching a cryptocurrency to help the company become profitable. However, Musk opposed the idea, fearing it would damage the reputation of OpenAI and everyone involved in the ICO.

Musk left OpenAI in February 2018 and later founded his own AI company, xAI. Meanwhile, in July 2023, Sam Altman-backed Worldcoin launched its cryptocurrency, WLD, which is officially stated as unrelated to OpenAI and Worldcoin.

In August 2024, Musk filed a lawsuit against OpenAI, Altman, and Brockman, accusing them of fraud, violating the federal RICO Act, and engaging in unfair competition.