An inside look at the Telegram Open Network competition with an analysis of the contest’s task.
Telegram made headlines early in 2018 when its ICO held in the month of March raised $1.7 billion for 2.9 billion Gram tokens in public sales. This was the second-largest fundraiser from an ICO only behind Block.one which raised $4 billion during its public sale in 2017-18. Telegram had announced that it would issue its Gram token by the end of 2019 however the SEC got an immediate restraining order against the issuance of the Gram token as they failed to register their ICO with the SEC. The US regulation…
Telegram told investors it was using BNY Mellon and Credit Suisse, to move and store fiat raised in last year’s token sale, court filings indicate.
Telegram is currently on the SEC radar as the U.S regulator wants the firm to clarify issues relating to its TON token sale back in 2018. The SEC has since made a request to England’s High Court to
The U.S. Securities and Exchange Commission (SEC) wants Telegram’s former chief investment advisor to testify and hand over documents related to the company’s $1.7 billion 2018 token sale.
Telegram’s founder and CEO Pavel Durov, plus two other employees, should be deposed to give testimony in the SEC case over whether the gram token is a security, a judge has ordered.
Six days into the extreme fast Pavel Durov says he is ‘feeling great’, but experts warn of dangers
Messaging app firm Telegram has made a new plea to a U.S. court to drop an action brought by the SEC alleging its token is a security.
Investors who bought the firm’s gram token have agreed to accept an extended issuance date in the hope they’ll still turn a profit.
Telegram said that it has agreed to stop selling and delivering its Gram tokens, and an injunction is thus not needed, although the Securities and Exchange Commission (SEC) wouldn’t budge.In the filing, Telegram also argued that Grams are not securities, and the SEC’s allegation “runs counter to longstanding Supreme Court precedent, the SEC’s own views relating to other cryptocurrencies, and common sense.”
Defendants sold approximately 2.9 billion digital tokens called “Grams” at discounted prices to 171 initial purchasers worldwide, including more than 1 billion Grams to 39 U.S. purchasers. Telegram promised to deliver the Grams to the initial purchasers upon the launch of its blockchain by no later than October 31, 2019, at which time the purchasers and Telegram will be able to sell billions of Grams into U.S. markets. The complaint alleges that defendants failed to register their offers and sales of Grams, which are securities, in violation of the registration provisions of the Securities Act of 1933.