Elon Musk said most cryptocurrencies are “scams” during his Thursday testimony in the OpenAI trial, according to a reporter covering the case.
Musk’s Response To Initial Coin Offering Question
Mike Isaac, a tech reporter from The New York Times, quoted Musk explaining cryptocurrency to the jury in the Federal Courthouse in downtown Oakland.
“Some of them have merit, but most of them are scams,” Musk was quoted as saying.
The comment was in response to a question about OpenAI’s reported plans to raise funds through an initial coin offering—a cryptocurrency-based fundraising—in 2018, Issac said.