Close Menu
  • Coins
    • Bitcoin
    • Ethereum
    • Altcoins
    • NFT
  • Blockchain
  • DeFi
  • Metaverse
  • Regulation
  • Other
    • Exchanges
    • ICO
    • GameFi
    • Mining
    • Legal
  • MarketCap
What's Hot

$100M Liquidated As Traders Brace For CLARITY Vote

23/09/2026

Ethereum just had the best Q3 since 2016 – ‘ETH is ready to explode!’

23/09/2026

RWA deposits triple to $7.4B as DeFi activity falls

23/09/2026
Facebook X (Twitter) Instagram
  • Back to NBTC homepage
  • Privacy Policy
  • Contact
X (Twitter) Telegram Facebook LinkedIn RSS
NBTC News
  • Coins
    1. Bitcoin
    2. Ethereum
    3. Altcoins
    4. NFT
    5. View All

    $100M Liquidated As Traders Brace For CLARITY Vote

    23/09/2026

    Bitcoin Price Drops Below $77K Ahead of Tomorrow’s FOMC Meeting

    23/09/2026

    Is the $75K Liquidity Sweep Coming Before $90K?

    23/09/2026

    Bitcoin price faces $75,500 test below 50-week EMA

    23/09/2026

    Ethereum just had the best Q3 since 2016 – ‘ETH is ready to explode!’

    23/09/2026

    Ethereum Investors Are Pulling ETH Off Binance at a Pace Not Seen in 3 Years

    23/09/2026

    Ethereum’s L1 Gains New Ethical Prediction Market Player

    23/09/2026

    ICO Era Whale Buys ETH at $2,794 as Ethereum Price Now Sits At $2,720

    23/09/2026

    BLAKE2b Bitcoin Fork Wants Miners to Wait 45 Days to Touch Their Coins

    23/09/2026

    Trump Memecoin Team Sends 8.4M TRUMP to OKX as Bitcoin Price Nears $85K

    23/09/2026

    Zcash Foundation denies any ZRC-20 or $CASH token involvement in warning to users

    23/09/2026

    Week in Review – September 14 – September 20

    23/09/2026

    Elon Musk Brings Back His Wild NFT Avatar Moment

    22/09/2026

    Sony Says You Don’t Own the Games You Bought. Crypto Says It Can Fix That

    22/09/2026

    Aurora Intents routed $19M into Zcash NFT auction

    22/09/2026

    NFT sales fall 15% to $37.5M as Ethereum leads

    19/09/2026

    $100M Liquidated As Traders Brace For CLARITY Vote

    23/09/2026

    Ethereum just had the best Q3 since 2016 – ‘ETH is ready to explode!’

    23/09/2026

    RWA deposits triple to $7.4B as DeFi activity falls

    23/09/2026

    How Trump Rejecting AI Guardrails Impacts Crypto and DeFi Security

    23/09/2026
  • Blockchain

    NGD launches Neo 3650, an AI-assisted art campaign marking 10 years of Neo MainNet

    23/09/2026

    Hana Bank taps Euroclear blockchain for $100M bond issuance: Report

    23/09/2026

    Chainlink Integrates with 16 New Services Across 7 Chains

    23/09/2026

    Virtuals Launches Occupy on Base, Pioneering AI Senate

    23/09/2026

    Google and Apple seek crypto talent as Big Tech eyes stablecoin and tokenization rails

    23/09/2026
  • DeFi

    Aave’s weETH Crosses $4 Billion in Deposits on Aave V3

    23/09/2026

    Narrowing price cushions leave Bitcoin loans vulnerable to 4.7% price dips as Aave weighs higher leverage

    23/09/2026

    Maple Finance Explains Its Competitive Edge in Yield Spreads

    23/09/2026

    Aave Launches USDC Deposits from Base in Mobile App

    23/09/2026

    1inch Sets Stage for Onchain Finance Revolution

    23/09/2026
  • Metaverse

    Is Solana Gaming Back? Kintara Activity Fuels Renewed Optimism in Onchain MMOs

    24/06/2026

    The Sandbox launches AI game engine ‘The Sandbox Studio’ for next-generation creators

    10/06/2026

    Meta commits $13M in funding for Oversight Board through 2028

    29/05/2026

    Why Animoca’s Yat Siu says the future is 100 billion AI agents

    07/05/2026

    ‘8,000 Jobs’—Polymarket Sees Tech Layoff Surge As Meta AI Push Bites

    18/04/2026
  • Regulation

    RWA deposits triple to $7.4B as DeFi activity falls

    23/09/2026

    Fidelity gold holdings double as Fed policy jitters rattle markets

    23/09/2026

    Banks and regulators launch quantum safe crypto pilot

    23/09/2026

    Gold Hits $4,620 as Treasury Buybacks Reignite the Dollar Debasement Trade

    23/09/2026

    U.S. Treasury Weighs $1 Trillion TGA Drawdown for Bond Purchases, Boosting Liquidity

    23/09/2026
  • Other
    1. Exchanges
    2. ICO
    3. GameFi
    4. Mining
    5. Legal
    6. View All

    SwissBorg Expands Crypto Trading Offerings with Litecoin and Zcash

    23/09/2026

    Trump Spurs Crypto Race as SGX Targets US Investors

    23/09/2026

    Western Union and MoneyGram bet big on stablecoin remittances to slash fees

    23/09/2026

    Coinbase CEO Engages with Base Builders at Singapore Office

    23/09/2026

    ICO market slows sharply with only six completions in 2026

    30/04/2026

    South Korea Poised to Lift Ban on Domestic ICOs After 7 Years

    19/12/2025

    Why 2025’s Token Boom Looks Both Familiar and Dangerous

    31/10/2025

    ICO for bitcoin yield farming chain Corn screams we’re so back

    22/01/2025

    Top 12 NFT games every player should know about in August 2026

    19/08/2026

    GameShame Studios founder details Raijin Protocol’s roadmap in NeoPod’s sixth AMA

    13/08/2026

    How BC.GAME is turning players into stakeholders

    04/08/2026

    YGG Play Shuts Down Services as Yield Guild Pivots to AI Data

    01/08/2026

    Bitcoin’s $84K rally isn’t saving miners as difficulty signals already flash caution

    22/09/2026

    Can a Fruit Fly Brain Mine Bitcoin? These Companies Are Testing It

    22/09/2026

    How cutting power to Bitcoin miners can actually burn more energy

    22/09/2026

    Global Unichip Hits ATH as AI Demand Outpaces Bitcoin Mining

    19/09/2026

    How Trump Rejecting AI Guardrails Impacts Crypto and DeFi Security

    23/09/2026

    Grayscale Advocates for CLARITY Act as Senate Prepares

    23/09/2026

    Crypto Bill Keeps Facing Attacks From Warren Ahead of Perilous Moment

    23/09/2026

    U.S. Senator Lummis says Democrats won’t quit asking for more on crypto Clarity Act

    23/09/2026

    $100M Liquidated As Traders Brace For CLARITY Vote

    23/09/2026

    Ethereum just had the best Q3 since 2016 – ‘ETH is ready to explode!’

    23/09/2026

    RWA deposits triple to $7.4B as DeFi activity falls

    23/09/2026

    How Trump Rejecting AI Guardrails Impacts Crypto and DeFi Security

    23/09/2026
  • MarketCap
NBTC News
Home»Legal»OpenAI CEO Sam Altman testifies in Elon Musk’s trial, denying he ‘stole a charity’
Legal

OpenAI CEO Sam Altman testifies in Elon Musk’s trial, denying he ‘stole a charity’

NBTCBy NBTC17/06/2026No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


Sam Altman sat in a courtroom this week doing something most tech CEOs try to avoid: explaining, under oath, whether he basically stole a charity.

The OpenAI chief executive testified in Elon Musk’s civil lawsuit against him and OpenAI, pushing back against accusations that he and OpenAI President Greg Brockman transformed what was supposed to be a nonprofit AI safety lab into a profit-driven enterprise. Altman’s core message was straightforward: OpenAI is still a large charity, and he’s an honest businessperson running it.

What Musk is actually alleging

Musk’s lawsuit paints a specific picture. He claims Altman and Brockman effectively “looted” OpenAI’s nonprofit structure, undermining its original mission of developing safe artificial intelligence for the benefit of humanity. The vehicle for this alleged heist, according to Musk, was OpenAI’s controversial partnership with Microsoft, which restructured the organization into a hybrid model that allowed private investors to profit from the lab’s work.

Musk contributed approximately $38 million to OpenAI before he stopped donating in 2017. His argument is essentially that he funded a mission, not a startup, and the people running it changed the deal after he walked away.

Altman, for his part, testified about his own substantial financial and leadership contributions to OpenAI. He framed the organization’s evolution not as a betrayal of its founding principles but as a necessary adaptation to compete in a field that turned out to require billions of dollars in compute infrastructure.

The counter-narrative: Musk wanted more, not less

According to Altman’s testimony, Musk himself sought tighter control over OpenAI during its early years. This allegedly included proposals to merge the lab with Tesla, which would have given Musk’s electric car company direct access to OpenAI’s research and technology. Altman also testified about plans involving familial inheritance of the lab, suggesting Musk envisioned a scenario where control of OpenAI could pass within his own family.

Musk eventually left OpenAI’s board and later founded xAI, his own competing artificial intelligence company.

Why this trial matters beyond the courtroom

This case lands at a moment when the entire tech industry is watching how hybrid nonprofit and for-profit structures hold up under pressure. OpenAI is not the only organization navigating this tension. Anthropic, founded by former OpenAI researchers, operates under a public benefit corporation model. Musk’s xAI has taken a more straightforward for-profit approach.

All three companies are eyeing potential IPOs. The governance structures they choose, and the legal precedents set by cases like this one, will shape how mission-driven tech organizations raise capital, distribute profits, and answer to both investors and the public.

The question the court is ultimately grappling with is whether OpenAI’s structural evolution was a pragmatic necessity or a breach of trust. OpenAI was founded in 2015 as a nonprofit research organization focused on developing artificial general intelligence for the greater good. Musk left the board in 2018 following disputes over governance and funding.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
NBTC

NBTC is the editorial account for NBTC News, covering Bitcoin, Ethereum, DeFi, blockchain infrastructure, exchanges, mining, regulation and digital asset markets. The editorial team focuses on clear sourcing, timely updates and practical context for crypto readers.

Related Posts

How Trump Rejecting AI Guardrails Impacts Crypto and DeFi Security

23/09/2026

Grayscale Advocates for CLARITY Act as Senate Prepares

23/09/2026

Crypto Bill Keeps Facing Attacks From Warren Ahead of Perilous Moment

23/09/2026

U.S. Senator Lummis says Democrats won’t quit asking for more on crypto Clarity Act

23/09/2026
Add A Comment

Comments are closed.

Top Posts
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Your source for the serious news. This website is crafted specifically to for crazy and hot cryptonews. Visit our main page for more tons of news.

We're social. Connect with us:

Facebook X (Twitter) LinkedIn RSS
Top Insights

$100M Liquidated As Traders Brace For CLARITY Vote

23/09/2026

Ethereum just had the best Q3 since 2016 – ‘ETH is ready to explode!’

23/09/2026

RWA deposits triple to $7.4B as DeFi activity falls

23/09/2026
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Type above and press Enter to search. Press Esc to cancel.