State regulators, including Texas, have issued cease-and-desist orders to the promoter of TruthGPT Coin and Elon Musk AI Token, cryptocurrencies accused of being part of a fraudulent securities scheme. The tokens allegedly claimed to have been developed by Elon Musk and had an artificial intelligence system that would provide investment ideas and detect scams.
The issuer, Horatiu Charlie Caragaceanu, and related companies, including The Shark of Wall Street, promoted investments through websites and social media. Texas officials claim that all the tokens are worthless and are part of an attempt to leverage popular buzzwords and personalities to sell fraudulent products.
Joe Rotunda, director of the enforcement division at Texas State Securities Board, said the tokens were the latest in a long line of scams targeting investors with popular concepts. Caragaceanu has also been promoting other coins, such as Elon Musk AI Token. Regulators in Montana, Alabama, Kentucky, and New Jersey are also filing orders against the defendants.
TruthGPT – What You Should Know
The release of Open AI’s ChatGPT continues to generate buzz on the internet, and many people have shared their thoughts on the platform. Elon Musk, the founder of Open AI, recently tweeted a joke about the world needing “TruthGPT” in response to the launch of ChatGPT.
Elon Musk Claims To Be Working on ‘TruthGPT’ — a ‘Maximum Truth-seeking AI’
During an interview with Fox News’s Tucker Carlson, Elon Musk revealed that he is working on a new AI rival to OpenAI’s ChatGPT, which he calls “TruthGPT”. Musk explained that the purpose of TruthGPT is to seek maximum truth and understanding of the universe, which he believes will lead to AI that is unlikely to destroy humans. He compared it to how humans protect chimpanzees and aspire to preserve their habitats.
Elon Musk sees TruthGPT as a course correction to OpenAI, which he implied could be influenced by profit incentives. He has previously tweeted about the need for TruthGPT and signed an open letter in March urging companies to pause “giant AI experiments”. Although it is unclear how far along Musk’s “TruthGPT” is, he has established a new AI company called X.AI.