Telegram has started paying out funds to investors in the Telegram Open Network (TON) platform, who after the project’s failure did not withdraw the money immediately but decided to wait a year to receive 110% of their investment. The Bell reports, citing two investors.<\/p>\n
<\/p>\n
Some investors have already received their funds, while another portion of TON participants has been notified of the start of distributions.<\/p>\n
During two rounds of a private ICO in February and March 2018, TON attracted $1.7 billion from 175 investors in the United States and abroad. Among the project’s investors are entities linked to billionaire Roman Abramovich and Mikhail Abyzov.<\/p>\n
The launch was initially due by October 31, 2019, but the U.S. Securities and Exchange Commission (SEC) obtained a court injunction temporarily barring the distribution of tokens. Pavel Durov then struck a first deal with investors, setting a new deadline.<\/p>\n
In April, Pavel Durov informed TON investors that the launch would not proceed due to a clash with the SEC and a ban on distributing Gram tokens. He promised non-American investors a 110% return after a year on their initial investments, while those unwilling to accept that option would receive 72% immediately.<\/p>\n
In March, Telegram raised $1 billion<\/a> through the issue of five-year convertible bonds at 7% interest.<\/p>\n Subscribe to ForkLog news on Telegram: ForkLog Feed<\/a> \u2014 the full news feed, ForkLog<\/a> \u2014 the most important news, infographics and opinions.<\/p>\n","protected":false},"excerpt":{"rendered":" Telegram began paying out funds to investors in the Telegram Open Network (TON) platform, who after the project’s failure did not withdraw the funds immediately, choosing instead to wait a year and receive 110% of their investment.<\/p>\n","protected":false},"author":1,"featured_media":40511,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1423,723],"class_list":["post-40510","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-pavel-durov","tag-telegram"],"aioseo_notices":[],"amp_enabled":true,"views":"44","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/40510","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=40510"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/40510\/revisions"}],"predecessor-version":[{"id":40512,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/40510\/revisions\/40512"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/40511"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=40510"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=40510"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=40510"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}