Musk made ‘hair-raising’ demands for control of OpenAI, Altman testifies

Injective's move democratizes access to high-demand private equity, potentially reshaping investment landscapes and challenging regulatory norms. The post Injective launches on-chain pre-IPO stocks for OpenAI, SpaceX, and Anthropic appeared first on Crypto Briefing.

The OpenAI chief rejects claims he deceived Elon Musk as high-stakes AI trial nears its end Sign up for the Breaking News US newsletter email The OpenAI CEO, Sam Altman, took the stand on Tuesday to defend himself and his company against a lawsuit by Elon Musk. Altman is set to be one of the final witnesses in the trial, which has pitted two of the tech industry’s most powerful men against each other in a dramatic courtroom showdown. Musk has accused Altman and OpenAI of breaking the AI firm’s founding agreement by restructuring it into a for-profit enterprise, alleging that Altman essentially swindled him into co-founding the company and providing tens of millions in financial backing. Musk also claims Altman unjustly enriched himself in the process and is seeking the CEO’s removal from OpenAI, the redistribution of $134bn to the firm’s non-profit and the undoing of its for-profit conversion. Continue reading...

XRP transaction volume on the XRP Ledger surged 65% over the past twelve months — from 43 million to 71 million transactions — setting a new record that a digital asset treasury firm argues reflects something far more significant than speculative activity: measurable, institutional-grade utility arriving quietly on the ledger while most of the market is watching price charts. Related Reading: Bitmine ETH Holdings Cross 5.2 Million—CEO Announces New Phase For Crypto Markets The data was shared by Evernorth (@evernorthxrp), a purpose-built digital asset treasury focused on XRP, in a post on X. The firm was pointed in its framing: speculative volume on a blockchain comes in bursts. What the XRPL is recording looks different — steady, programmatic, and tied to real businesses moving real money, according to the post. XRP Ledger sees massive increase in network utility driven by transactions from crypto exchanges and other institutional users. Source: evernorthxrp on X Who Is Actually Drivi

Both companies declared SPV-based share schemes invalid this week—and Anthropic named names, including Forge Global.

OpenAI's CEO recalls a "particularly hair-raising" conversation with the SpaceX founder.

OpenAI CEO Sam Altman says Elon Musk did "huge damage" to the culture of the AI startup. During testimony as part of Musk's lawsuit against OpenAI, Altman said Musk required OpenAI president Greg Brockman and former chief scientist Ilya Sutskever to rank researchers by their accomplishments and "take a chainsaw through a bunch." Altman conceded that this was the management style the Tesla CEO was known for, but that it was incompatible with his startup. "I don't think Mr. Musk understood how to run a good research lab," Altman testified when his lawyer, William Savitt, asked about the impact of Musk's departure from OpenAI on morale. "For a … Read the full story at The Verge.

The family of a deceased 19-year-old college student alleges ChatGPT encouraged dangerous drug use and contributed to his fatal overdose.

The family of a 19-year-old college student is suing OpenAI over claims that his conversations with ChatGPT led to an accidental overdose. In the lawsuit filed on Tuesday, Sam Nelson's parents allege ChatGPT "encouraged" the teen to "consume a combination of substances that any licensed medical professional would have recognized as deadly," resulting in his death. Though ChatGPT initially pushed back on conversations about drug and alcohol use, the launch of GPT-4o in April 2024 changed the chatbot's behavior, according to the lawsuit. Following the update, ChatGPT "began to engage and advise Sam on safe drug use, even providing specific do … Read the full story at The Verge.