ELONMusk

A U.S. court has opened the door to one of the most high-profile tech legal battles. Elon Musk can now move forward with his lawsuit against OpenAI, accusing the company of deceiving him about its nonprofit status. Judge Yvonne Gonzalez Rogers upheld Musk’s fraud allegations but dismissed other claims, including racketeering and false advertising.

🔹 Musk’s Claim: “OpenAI Misled Me”
Musk, one of OpenAI’s co-founders and early donors—contributing around $45 million—claims he was misled into believing the company would remain nonprofit and open-source. Instead, he argues, OpenAI secretly planned to transition into a for-profit business, contradicting its original mission to develop AI “for the benefit of humanity.”
“They convinced me to fund a nonprofit, but behind the scenes, they were preparing to turn it into a money-making machine,” Musk claims.

The judge agreed that Musk’s fraud allegations were plausible enough to move forward, stating that he presented sufficient evidence suggesting the company may have acted unethically to raise capital for a for-profit model.

❌ Dismissed: Racketeering, False Advertising, and Contract Breach
On the other hand, the court dismissed Musk’s racketeering charges under the RICO Act, citing a lack of concrete evidence. Claims of deceptive advertising and breach of an express contract were also rejected. The emails Musk provided were ruled insufficient to prove a binding agreement.
However, the court acknowledged the possibility of an implied agreement, based on the behavior and expectations shared between the parties involved.

🔄 OpenAI’s Counterclaim: Musk Is Sabotaging Our Restructuring
Meanwhile, OpenAI has filed a counter-lawsuit accusing Musk of deliberately obstructing its corporate restructuring, which is estimated to be worth nearly $100 billion.
The centerpiece is Musk’s February 2024 bid to acquire OpenAI for $97.375 billion. OpenAI dismissed the offer as fraudulent and strategic, claiming it was designed to gain access to internal information and derail the restructuring. According to the company, none of the investors listed in Musk’s letter conducted due diligence, and one even admitted that Musk planned to obtain internal data through legal action.
“Musk is no longer affiliated with OpenAI and now runs a rival AI company, xAI. This lawsuit is just a tool to stop our progress,” OpenAI argues.

⏳ Deadline Pressure
OpenAI is racing against the clock: it must complete its restructuring by the end of 2025, or risk losing major funding. SoftBank, one of its major backers, has pledged $30 billion—but warned it would withdraw at least $10 billion if the process isn’t finished on time.

📌 Summary:
Elon Musk is allowed to move forward with his fraud lawsuit against OpenAI, while other claims were thrown out. OpenAI, in turn, is fighting back with a counterclaim, alleging that Musk is sabotaging its future. At stake: the future of one of the most powerful AI labs on the planet—and tens of billions of dollars.

#ElonMusk , #OpenAI , #SamAltman , #ArtificialInteligence , #worldnews

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Two of the IRS’s top crypto executives — Seth Wilks and Raj Mukherjee — have been unexpectedly removed as part of a sweeping reform led by DOGE (Department of Government Efficiency), a new initiative under President Donald Trump aimed at drastically reducing government bureaucracy.

🏛️ Trump Rewrites the Crypto Rulebook
Wilks and Mukherjee had only joined the IRS in February 2024, coming from the private crypto sector — Seth from TaxBit, and Raj from Binance.US and ConsenSys. Their primary roles included:
🔹 launching the new crypto income reporting form 1099-DA

🔹 crafting regulations for DeFi brokers

🔹 strengthening collaboration between the IRS and the crypto industry
Their dismissal came in the form of “deferred resignations” — meaning they’re technically still employed but have been placed on paid leave until September.

✂️ 20,000 IRS Employees Leaving, Including Leadership
This move is part of a broader plan by Trump’s administration to cut over 20,000 IRS jobs, mostly from hires made under the Biden administration. Trump’s team argues the IRS had become bloated and inefficient — and now aims to streamline operations.
A Treasury Department spokesperson stated:
“The goal is a leaner, more efficient government that delivers enforcement, privacy, and service the American people deserve.”

🧾 Crypto Policy Is Being Rewritten
One of the last projects Wilks and Mukherjee worked on was a new rule targeting DeFi platforms, created under Biden's administration. However, this data collection rule was struck down earlier this year through a Congressional Review Act signed by Trump.
It became clear this wasn’t just about job cuts — it marked a dramatic shift in how the federal government approaches crypto regulation. The departure of these two officials symbolizes the end of a regulatory era.

🚪 It’s Not Just the Crypto Officials Leaving
The shake-up goes beyond crypto. Melanie Krause, the IRS’s acting commissioner, also resigned — reportedly due to internal unrest after the IRS agreed to share taxpayer data with immigration authorities, a policy change driven by the Trump administration. This broke a long-standing IRS tradition of strict data privacy, sparking backlash and a wave of resignations at high levels.

🧩 Summary:
Trump’s DOGE initiative is triggering seismic changes across the U.S. tax system. With massive departures, regulation rollbacks, and a shift toward less oversight, the message is clear: Trump is betting on smaller government and reduced crypto regulation — but what this means for the broader crypto market remains to be seen.

#IRS , #DonaldTrump , #CryptoRegulation , #DOGE , #ElonMusk

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Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“