Telegram investors don’t want the money back, agree to wait five months for TON launch – Telegram News

The majority of the Telegram investors have agreed to the postponement of the launch of TON blockchain. Initially, the encrypted messaging giant intended to issue the Gram token on 30th October, but just a few weeks before the deadline US SEC obtained a restraining order from the court over its "illegal" ICO. Telegram has proposed the launch date of TON 30th April 2020, and most of the investors have agreed.

According to a Forbes Russia report, most of the investors of Telegram’s blockchain network have agreed on the postponement of TON’s launch. Earlier, the messaging giant had proposed a deal to investors in which they could either wait till 30th April or get 77% of the money they invested back.

The report cites its sources who confirm that the company will issue the official statement today. Today was supposed to be the hearing of the case, but the court postponed the date to Feb 2020. US SEC had obtained a temporary restraining order from the court to halt the issuance of Gram tokens.

US SEC has alleged that Telegram raised over $1.7 billion in an illegal coin offering. Telegram, in its reply, said that Gram is not a security, and the ICO was not unlawful. A clause in the purchasing document shielded the company from refunding 100% money back to investors.

Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

1 comment

  1. I would not take such a risk if I was on their place. When it comes to money I’m trying to be as much as possible accurate. How can anyone believe in a network that steals data? I’ve came to Utopia now and quite satisfied with it as my mined coins are safe and my data is anonymous too. Don’t think that Durov could change things for better.

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