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Elon Musk's $134B Lawsuit Against OpenAI and Microsoft Goes to Trial

Elon Musk's $134 billion lawsuit against OpenAI, Sam Altman, and Microsoft is set to begin trial on Monday in Oakland, California. The case, presided over by US District Judge Yvonne Gonzalez Rogers, has been narrowed to two key claims: unjust enrichment and breach of charitable trust. Musk initially filed the lawsuit in November 2024, following his $38 million donation to OpenAI, which was founded as a nonprofit in 2015. He alleges that OpenAI's shift to a capped-profit model, supported by over $13 billion from Microsoft, violated its original mission and enriched insiders at the expense of early donors. The trial will determine whether OpenAI and Microsoft were unjustly enriched by the restructuring and if OpenAI breached its charitable mission. Musk's legal team has requested that any damages awarded be directed to OpenAI's charitable arm. Jury selection begins Monday, with the proceedings expected to reveal internal communications from OpenAI's early years. Musk is also pursuing an antitrust case against Apple and OpenAI while developing xAI as a competitor to Altman's company.

Phemex Crypto Market Daily: Bitcoin Holds $78K as ETF Inflows Persist; Central Bank Decisions Loom (Apr 26)

Debate Intensifies Over Freezing Dormant Bitcoin Amid Quantum Threat

The cryptocurrency community is embroiled in a heated debate over whether to freeze 5.6 million dormant Bitcoin to protect against potential quantum computing threats. Proponents argue that freezing these tokens, which have been inactive for over a decade, could prevent theft if quantum computers become capable of cracking Bitcoin's cryptographic security. Critics, however, warn that such a move could undermine Bitcoin's core principles of immutability and decentralization. Bitcoin Improvement Proposal 361 (BIP-361), introduced by core developer Jameson Lopp, suggests phasing out current cryptographic signatures, potentially freezing assets that do not migrate. While some see this as a necessary step to safeguard the network, others, including industry figures like Samuel Patt and Kent Halliburton, argue it would set a dangerous precedent, compromising Bitcoin's promise of unconditional ownership. The debate highlights the tension between maintaining Bitcoin's foundational ethos and adapting to emerging technological threats.

Senator Tillis Supports Warsh's Fed Chair Nomination, Confirmation Odds Soar

Senator Thom Tillis has agreed to advance Kevin Warsh's nomination for Federal Reserve Chair, significantly boosting the chances of confirmation. Tillis had previously opposed the nomination, demanding the Department of Justice end its investigation into Powell's Federal Reserve building costs. Following the announcement by U.S. Attorney Piro that the investigation would be discontinued, Tillis has withdrawn his opposition. This development has led to a surge in the prediction market, with Polymarket now estimating a 93% probability of Warsh's confirmation by May 15. The shift in Tillis's stance marks a pivotal moment in the confirmation process, clearing a major hurdle for Warsh's appointment.