Cryptocurrency
Telegram Cancels ICO After Multi-Billion-Dollar Private Sale via @hacked
According to Hacked, “The Wall Street Journal reported Wednesday that Telegram is calling off a planned sale of cryptocurrency to the general public. Citing a person familiar with the matter, WSJ said the company will utilize pre-sale funds to develop its new digital payment platform, the Telegram Open Network.” “Fewer than 200 private investors took part in […]
According to Hacked, “The Wall Street Journal reported Wednesday that Telegram is calling off a planned sale of cryptocurrency to the general public. Citing a person familiar with the matter, WSJ said the company will utilize pre-sale funds to develop its new digital payment platform, the Telegram Open Network.”
“Fewer than 200 private investors took part in the pre-sale, which entailed purchasing a newly created digital currency in exchange for a stake in the new product. This is a clear sign that the sale was restricted to institutional investors and other high net-worth individuals.”
“Powered by blockchain technology, Telegram Open Network (TON) is being billed as the next “Visa/MasterCard alternative for a new decentralized economy,” the company said in a description of its plans, as reported by WSJ.”