Elon Musk Vetoed OpenAI's Token Issuance Plan in 2018

According to The Block, a public court document filed on November 14 revealed that Elon Musk vetoed OpenAI's ICO plan in 2018.

The document shows that Musk and his legal team stated that in early 2018, OpenAI's two founders, Sam Altman and Greg Brockman, wanted to launch a token to help the company profit. However, Musk believed at the time that this would only severely damage the credibility of OpenAI and everyone involved with the ICO.

OpenAI was initially a non-profit organization, and Musk joined OpenAI as a co-chairman of the board, investing $44 million in the startup. Musk even suggested merging OpenAI with Tesla to solve the funding issues of this AI startup. However, Musk left OpenAI in February 2018 and founded his own AI company, xAI.