Elon Musk reportedly labels most cryptocurrencies as 'scams'
By Pooja Rajkumari
Published on April 30, 2026.
Tesla CEO, Elon Musk, has been a prominent figure in the world of crypto, with his comments regarding most cryptocurrencies labelled as'scams' during a court hearing for OpenAI, where he is suing the company for allegedly breaching its founding mission of being non-profit after it pivoted towards commercial products. The comment was made during the OpenAI court session. Musk, who co-founded OpenAI in 2015, has maintained that he always understood that the organisation could eventually evolve into a for-profit entity. The court hearing is taking place in Oakland, California and is currently on its fourth day.
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