PANews reported on April 30 that OpenAI disclosed in previous documents: In mid-January 2018, Elon Musk congratulated us on our successful fundraising and agreed to our Initial Coin Offering (ICO) to raise $10 billion — which would involve a for-profit subsidiary — and told us we had solved our long-term funding issues. However, by the end of January, he informed us that he no longer supported the ICO (at that time we had also lost confidence in the ICO) and believed OpenAI was 'doomed to fail compared to Google.' Subsequently, in February 2018, Elon Musk concluded that OpenAI could not raise sufficient funds. That month, he resigned to focus on developing General Artificial Intelligence (AGI) at Tesla.

It’s reported that in mid-January 2018, the crypto market quickly turned bearish after peaking in a bull run, with Bitcoin dropping significantly from nearly $20,000 (in December 2017). The overall market entered the early stages of a bear market. Around the same time, the ICO bubble began to burst, with project quality and regulatory risks triggering a decline in market confidence. The SEC and other institutions ramped up scrutiny, and major platforms restricted crypto ads, signaling a shift from a funding frenzy to a contraction phase.