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19 May 2026, 20:40

Musk’s Lawsuit Against OpenAI Failed — But the Trial Revealed His Own Similar Ambitions

BitcoinWorld Musk’s Lawsuit Against OpenAI Failed — But the Trial Revealed His Own Similar Ambitions A jury’s swift rejection of Elon Musk’s lawsuit against Sam Altman, Greg Brockman, and Microsoft last week confirmed what many courtroom observers noted: Musk’s case was legally weak, in part because he waited years to file it. The trial, however, exposed uncomfortable parallels between Musk’s own actions and the very behavior he accused his former co-founders of. The Case Against Altman — and What It Overlooked Musk’s central claim was that Altman and Brockman breached a charitable trust by diverting OpenAI’s nonprofit resources to a for-profit entity, enriching themselves in the process. During closing arguments, OpenAI’s attorneys systematically dismantled the legal basis of the claim, while Musk’s team focused heavily on Altman’s credibility — a strategy that ultimately failed to sway the jury. But testimony revealed that Musk himself had redirected OpenAI’s resources for his own benefit. In 2017, Greg Brockman testified that Musk asked him to bring a team of OpenAI researchers — including Andrej Karpathy, Ilya Sutskever, and Scott Grey — to Tesla’s headquarters to assist a “demoralized” autopilot team. The scientists worked for weeks on Tesla’s self-driving technology without reimbursement to OpenAI. Musk also asked Brockman to recommend Tesla employees to fire, a request Brockman declined. Another source familiar with the incident confirmed Brockman’s account, noting that Tesla did not compensate OpenAI for the time and expertise of its staff. Musk’s family office, Excession, did not respond to requests for comment. A Double Standard on Charitable Trust The irony was not lost on legal experts. Dorothy Lund, a professor at Columbia Law School and co-host of the Beyond Unprecedented podcast, told Bitcoin World that Musk’s lawsuit appeared hypocritical. “It’s a bit rich for Musk to be suing for breach of a charitable trust, when he appears to have been redirecting assets in a way that was inconsistent with that mission,” she said. Musk’s donations to OpenAI, which he deducted from his taxes, funded scientists hired to secure the benefits of artificial general intelligence. Yet he then used those same scientists for free at his for-profit car company. While Tesla’s self-driving work involved AI, witnesses for Musk emphasized it was distinct from OpenAI’s core research agenda. OpenAI’s attorneys, however, portrayed the episode as a violation of Musk’s duty to the lab — especially after Karpathy left OpenAI for Tesla shortly afterward. Musk’s Own Push for Control Another critical fact that emerged during the trial was Musk’s extensive efforts in 2017 to gain sole control of a potential OpenAI for-profit affiliate. He deployed a mix of incentives and threats — offering co-founders free Teslas while threatening to withhold donations — in an attempt to secure total control. His attorneys struggled to convince the jury that Musk’s vision for a “small adjunct” for-profit was fundamentally different from the one Altman eventually created. Testimony from Musk’s own associates revealed that he refuses to invest in any business he cannot control. This made it harder for the jury to see Musk as a victim of a charitable trust violation when he had actively sought a similar arrangement. Why the Statute of Limitations Mattered Some have dismissed the jury’s decision as a technicality, but the statute of limitations has substantive purpose: it prevents parties from waiting years to unwind decisions made in good faith. The jury was asked to consider whether Musk should have known before August 5, 2021, that OpenAI was spending resources outside its mission or launching a for-profit affiliate. The evidence suggested Musk himself was involved in those very activities. Conclusion The trial did not just vindicate Altman and Brockman — it revealed that Musk’s own actions mirrored the misconduct he alleged. His lawsuit, filed years after the fact, failed not because of a legal technicality, but because the facts undercut his claims. The case serves as a reminder that accusations of charitable trust violations require clean hands, and the courtroom proved Musk’s were not as clean as he argued. FAQs Q1: Why did the jury reject Elon Musk’s lawsuit against OpenAI? The jury found that Musk waited too long to file his claims, and that his own actions — including redirecting OpenAI researchers to work for free at Tesla — undermined his accusations of breach of charitable trust. Q2: Did Elon Musk benefit from OpenAI’s nonprofit resources? Yes. Testimony showed that in 2017, Musk asked OpenAI to send top researchers to help Tesla’s autopilot team without reimbursement, effectively using nonprofit-funded talent for his for-profit company. Q3: What was Musk’s main legal argument? Musk argued that Sam Altman and Greg Brockman breached a charitable trust by diverting OpenAI’s nonprofit assets to a for-profit entity, enriching themselves. The court found the claim unsupported by the evidence and barred by the statute of limitations. This post Musk’s Lawsuit Against OpenAI Failed — But the Trial Revealed His Own Similar Ambitions first appeared on BitcoinWorld .

19 May 2026, 20:30

Sen. Warren launches a probe into the OCC, accusing the Trump administration of illegally granting “national trust” bank charters

Senator Elizabeth Warren is challenging the Trump administration and “big tech” once again, this time accusing crypto companies like Stripe and Coinbase of bypassing the requirements needed to offer banking services. Senator Warren is investigating the nine trust charters that have been approved for crypto companies since December 2025. She wrote a letter demanding records of communication between the Trump family and the Office of the Comptroller of the Currency (OCC), which is responsible for those approvals. Is the Trump administration letting crypto companies bypass rules? Senator Elizabeth Warren, the ranking member of the Senate Banking Committee, sent a formal letter to Comptroller of the Currency Jonathan Gould, accusing his agency of breaking the law to favor the crypto industry. Since December 2025, the Office of the Comptroller of the Currency (OCC) has approved at least nine “national trust charters” for crypto companies. Traditional trust charters are typically for limited activities like asset custody, but Senator Warren argues that these new entities look and act like full-scale banks without the necessary safety rails. She wrote that specifically, Coinbase (NASDAQ: COIN), Ripple, Circle (NYSE: CRCL), Crypto.com, Paxos, BitGo, Stripe, and Fidelity Digital Assets are exploiting their position to “evade the fundamental safeguards and obligations that come with being a bank.” The OCC, now led by Trump appointee Jonathan Gould, is pushing to integrate digital assets into the financial system. Earlier this year, in February, the OCC finalized a rule allowing trust banks to engage in activities traditionally reserved for fully regulated banks, such as trading and lending. Senator Warren claims this is “regulatory arbitrage” that allows these firms to avoid necessities like capital requirements, FDIC oversight, and the Bank Holding Company Act. The Independent Community Bankers of America (ICBA) also called the approval of the Coinbase charter a “grave mistake.” What does the Trump family have to do with this? Senator Warren’s letter specifically requests all the records of talks between the OCC and the White House, President Trump, or his family members regarding these charter approvals. In January, World Liberty Financial, the Trump family’s crypto venture, filed an application for a national trust bank charter. President Trump holds a stake in the company, and so ethics experts argue that the administration is in a controversial position to approve a charter that directly benefits the President. Warren has previously called for the OCC to delay consideration of the Trump family application. Now, she is demanding the full applications for all nine approved companies, as well as legal justifications for the approvals, by June 1, 2026. Warren recently grilled Treasury Secretary Scott Bessent over claims that grocery prices are falling, citing federal data showing that inflation jumped 0.7% in April, the highest monthly grocery inflation jump in four years. Warren began investigating in January, when her office reported American families paid $2,120 more in 2025 due to Trump-era inflation. She has since sent letters to Amazon, coffee companies, and the White House on cost increases caused by tariffs. Additionally, she condemned the Trump administration for extending sanctions relief for Russian oil, accusing the White House of gifting money to Putin to fund the war in Ukraine. “Let’s be clear,” Warren said in a related statement regarding the administration’s financial moves, “this is corruption on steroids.” Today’s letter is the latest of more than a dozen probes that Warren has launched, targeting POTUS, his family, cabinet and appointees since President Trump returned to office. The smartest crypto minds already read our newsletter. Want in? Join them .

19 May 2026, 20:02

Researcher Says XRP Price Does Not Need Clarity Act to Rise. Here’s why

XRP holds a stronger regulatory position than most digital assets. The SEC concluded its case against Ripple in 2025, and both the SEC and CFTC officially classified XRP as a commodity in March 2026. That is a meaningful legal foundation, but SMQKE (@SMQKEDQG), a popular crypto researcher, argues it is not the full picture. SMQKE’s recent post addresses a myth circulating in crypto communities: that tokens like XRP do not need the CLARITY Act to appreciate. He explained that the regulatory clarity XRP has received so far is real, but it stops short of what professional institutions require to deploy the token at scale. Another myth that needs to be debunked: Tokens like XRP do not need the Clarity Act to appreciate in value. The facts: XRP received clarity on its non-security status as a result of the now-concluded SEC case. This clarity was reinforced by the SEC and CFTC, which officially… https://t.co/wvlysuPe1s pic.twitter.com/RbQgO0N7Sj — SMQKE (@SMQKEDQG) May 18, 2026 Existing Clarity Is Not Enough for Institutions XRP’s commodity classification resolves the question of what XRP is. It does not tell institutions exactly how to use it. That distinction matters enormously at the institutional level. Professional institutions operate under strict federal regulations. Compliance teams, legal departments, and risk officers require explicit federal guidance before deploying any asset in standard business operations. XRP’s current status reaffirms the ruling that it is not a security . The CLARITY Act would advance and establish rules governing how utility tokens like XRP function within normal business practices. SMQKE states this is “precisely why institutions have not yet scaled XRP usage to high levels.” Scaled institutional usage drives token demand. This demand drives market value. Momentum Is Building On May 14, 2026, the Senate Banking Committee approved the Clarity Act in a 15-9 vote . The bill still needs to clear the full Senate, be reconciled with the House-passed version, and reach President Trump’s desk. Progress is real, but the work is not finished. Each step toward a federal framework brings institutional adoption closer, and this progress is exciting for XRP holders. What the Clarity Act Would Do The data already reflects the cost of regulatory uncertainty. SMQKE’s document revealed that 88% of centralized exchange volume currently runs on non-U.S. platforms. Only 19% of crypto developers are U.S.-based, a 51% drop over the last decade. We are on X, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) June 15, 2025 The CLARITY Act targets this directly. It aims to bring digital asset activity onshore, subject it to U.S. regulatory standards, and position the U.S. as a leader in technology, finance, and innovation. For XRP specifically, institutional activity at scale could send it to new heights. The Takeaway for XRP XRP’s legal status is settled. The CLARITY Act is about what comes next. Institutions need a federal framework to integrate utility tokens into business operations with confidence. That framework is what the CLARITY Act provides . Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post Researcher Says XRP Price Does Not Need Clarity Act to Rise. Here’s why appeared first on Times Tabloid .

19 May 2026, 20:00

Donald Trump Abandons Meme Coins In Favor Of These Indirect Bitcoin Exposure Vehicles

US President Donald Trump appears to have quietly shifted his crypto focus from meme coins to Bitcoin (BTC). While his self-titled meme coin, Official Trump (TRUMP), continues to trade in the market after a more than 80% crash, new federal disclosures reveal that the President and his family have been investing in firms with direct ties to BTC . The trades, made in the first quarter of 2026, targeted major global companies built around bitcoin mining, holding, and trading. The move reveals Trump’s deeper push into the crypto market ahead of a clearer regulatory landscape . Trump Expands Exposure From Meme Coins To Bitcoin Firms New government records show that Trump and members of his family made a series of investments in crypto-linked stocks during the first three months of this year. The disclosures, which immediately caught the attention of investors and analysts, were submitted to the US Office of Government Ethics (OGE) and made public this week. The document, known as an OGE Form 278-T, revealed thousands of stock trades carried out under the names of Trump and his family between January and March 2026. Among the crypto stocks, the family bought shares in MARA Holdings (MARA), the world’s largest publicly traded Bitcoin miner, Coinbase (COIN) , the largest crypto exchange, and Strategy (MSTR), the world’s first and largest Bitcoin treasury. Filing records also show nine trading entries linked to Coinbase, with the biggest single transaction executed on February 10 and valued somewhere between $100,001 and $250,000. Two smaller purchases of MARA Holdings were also recorded, with each trade below $50,000. Interestingly, Strategy shares saw the most activity, with eight transactions that included both buying and selling. The largest stock purchase came on February 12, valued between $50,001 and $100,000. Meanwhile, the largest sale was recorded on January 12, with an estimated amount between $15,001 and $50,000. Thousands More Trades Round Out Trump’s Busy Quarter Bitcoin-related stock purchases were only a small part of what Trump and his family traded in Q1. In total, more than 2,000 transactions took place during that quarter, with the overall value of trades estimated between $220 million and $750 million. Beyond Bitcoin, the filing reported that Trump bought shares in some crypto and fintech stocks, including Robinhood (HOOD) , Block Inc. (XYZ), PayPal (PYPL), and SoFi Technologies (SOFI). Other major transactions included purchases of major tech companies such as Nvidia (NVDA), Microsoft (MSFT), Oracle (ORCL), and Boeing (BA), with some of those trades falling in the $1 million to $5 million range. Notably, Trump’s assets are held in a family trust managed by his children, and some of the trades appear to have been handled through third-party firms rather than directly by the US President. The filing does not give exact amounts of these trades, only ranges. It also does not show whether any trades resulted in a profit or a loss.

19 May 2026, 18:41

SEC proposes IPO and listing overhaul for 75 percent more firms

🚨 SEC plans sweeping IPO reforms to make listings easier for 75 percent of companies. Biggest overhaul to registration rules in 20 years targets high costs and slow processes in $BTC and other sectors. 📝 Key point: Crypto firms may see faster, cheaper paths to public markets if these changes are approved. Continue Reading: SEC proposes IPO and listing overhaul for 75 percent more firms The post SEC proposes IPO and listing overhaul for 75 percent more firms appeared first on COINTURK NEWS .

19 May 2026, 18:00

Strategy Wants 1,000,000 Bitcoin Treasury And This Is How They Plan To Get To That Number

Strategy’s Bitcoin playbook is no longer just about buying dips. The company has turned its balance sheet into a capital machine built around one main objective of increasing the amount of Bitcoin it controls without weakening the amount of Bitcoin attached to each share. Recent filings by the company now show that it is planning to repurchase $1.5 billion principal amount of 2029 convertible notes. Strategy Is Getting Closer To 1,000,000 Bitcoin Strategy’s latest reported Bitcoin reserve shows how far the company’s accumulation strategy has come. The firm’s Bitcoin purchase page lists 843,738 BTC, acquired at an average cost of $75,700 per Bitcoin. Related Reading: Strategy Overtakes BlackRock’s Bitcoin Holdings, But Is Saylor Done Buying? This means Strategy now controls about 4.02% of Bitcoin’s fixed 21 million supply. The 1,000,000 BTC threshold would raise that share to about 4.76%, making Strategy one of the most important single holders in the Bitcoin market. At the current level, the company does not need to double its holdings. It needs to add about 18.5% more Bitcoin to cross the 1,000,000 BTC line. The pace of buying has also increased in 2026. Strategy said it held 818,334 BTC as of May 3, 2026, representing 22% growth year-to-date, and said it had raised $11.68 billion year-to-date at that point. Less than three weeks later, the company has bought another $2 billion worth of Bitcoin, lifting its holdings to 843,738 BTC. Strategy Repurchasing Convertible Notes Strategy’s path to acquiring 1,000,000 BTC depends on its ability to keep raising capital without damaging the value of its Bitcoin per share. Strategy sells financial instruments like convertible notes to investors who want exposure to its Bitcoin structure, then uses the proceeds to buy more Bitcoin. Related Reading: Analyst Says Avoid Bitcoin At All Costs; Here’s What To Do Instead As 50% Crash Looms If the Bitcoin added is worth more per share than the dilution or cost created by the financing, the company can report a positive Bitcoin yield. At the time of writing, Strategy has a Bitcoin year-to-date yield of 12.6%. The recent plan to repurchase part of the 2029 convertible notes also fits into this larger strategy. Strategy recently revealed that it agreed to repurchase a $1.50 billion principal amount of its 0% convertible senior notes due 2029 for an estimated cash price of about $1.38 billion. The repurchased notes would be cancelled, leaving about $1.50 billion of the 2029 notes outstanding. This matters because convertible notes can become future shares. Strategy reduces the possibility that those notes will eventually increase the number of shares by repurchasing and canceling a portion of that tranche. That can help protect Bitcoin per share, which is central to the company’s long-term treasury. Strategy’s most recent BTC purchase was announced less than 24 hours ago, with the company adding 24,869 BTC for a total cost of $2.014 billion. Featured image from Getty Images, chart from Tradingview.com