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Elon Musk sues OpenAI, Worldcoin sinks by 5%

Mar 01, 2024 - crypto.news
Elon Musk has filed a lawsuit against OpenAI, led by Sam Altman, accusing the company of unfair business practices, breach of fiduciary duty, and breach of contract. Following the lawsuit, the Worldcoin (WLD) cryptocurrency token, which is backed by Altman, saw a 5% decrease in value, dropping to $7.53. The trading volume of the token also fell by 40%, suggesting traders may be anticipating a price correction.

Musk is seeking an injunction to prevent OpenAI, Altman, and co-founder Greg Brockman from profiting from “AGI”, referring to ChatGPT-4. Musk alleges that the decision to abandon the open-source approach of previous iterations was commercially driven. The WLD token, while not directly related to OpenAI, is sensitive to its news due to Altman's leadership in both projects. Worldcoin, co-founded by Altman, recently had to stop providing digital identification services in India, Brazil, and France due to its own challenges.

Key takeaways:

  • Elon Musk has filed a lawsuit against OpenAI and its CEO, Sam Altman, accusing them of unfair business practices, breach of fiduciary duty, and breach of contract.
  • Following the lawsuit, the Worldcoin (WLD) cryptocurrency token, which is backed by Altman, has fallen by almost 5% to $7.53.
  • Musk is seeking an injunction against OpenAI, Altman, and company co-founder Greg Brockman from profiting from “AGI”, referring to ChatGPT-4.
  • Worldcoin, also led by Altman, has recently been forced to stop providing digital identification services in India, Brazil, and France.
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