Telegram has refused by public ICO — WSJ

May 4, 2018 12:00 AM
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Telegram has refused by public ICO — WSJ

Rumors that Telegram may refuse by the ICO for the general public, appeared during the closed part of sales. Nevertheless, the document published by the U.S. Securities and Exchange Commission (SEC) on March 29 assumed that the fund-raising still isn’t over, despite $1,7 billion collected at that moment.

According to the document obtained by the WSJ last year, Telegram planned to attract $1,2 billion, distributing this sum equally between private and public parts of a campaign.

However in February Telegram has reported to SEC that the first round was well closed,during this first round have been collected $850 million with the participation of 81 investors. In March the company reported that they have raised over $850 million more from 94 investors.

The reason why the Telegram has refused any further public campaign isn’t only because of the Telegram has an opportunity to collect the necessary funds in camera, but also because of the last year regulatory changes.

Organizers of a campaign raise funds into developing the performance of the Telegram Open Network –the network based on blockchain technology. which "could be an alternative to Visa/Mastercard for the new decentralized economy". 200 million active users of the Telegram messenger have the capacity to become participants of TON network.