CEO of Telegram Pavel Durov denies that the company is selling Telegram tokens after the TON failure as we are reading more in the upcoming altcoin news.
Pavel Durov denies:
“We are not selling Telegram – neither in part, nor in full.”
The CEO of the popular encrypted messaging platform Telegram denied the reports that the company is preparing to sell the company after the failed Telegram blockchain project. According to a report by the local tech publication iXBT, the internet company from Russia Mail.ru is one of the parties involved in acquired Telegram. Another is the unidentified Russian billionaire as the information was shared by the Russia-based trader and analyst Kirill Promzin. Promzin predicted Bitcoin’s 2017 bull run and called the asset’s high of $20,000.
Right after iXBT’s report was published, the Telegram CEO provided an official statement regarding the United States’ moves against TikTok. In another Telegram post, Durov said that Telegram has “always declined offers” to sell Telegram’s operations in different counties. Durov added:
“We are not selling Telegram – neither in part, nor in full. This will always be our position.”
The news comes right after Telegram shut down the test network for the Telegram Open Network as the company announced plans to discontinue support of the TON testnet back in July. And while the closure of the project was in May 2020, the TON test has been running for almost one year. In the latest updates, we can see that Telegram will shut down TON and its testnet, and bring the entire project to an end.
Despite all of this and the testnet being shut down less than a month from now, we can see that many network participants will still be able to continue their experiments after this testnet is terminated. Telegram will shut down TON but as the post shows, users can install their own testnet validators which are described in greater detail in three how-to documents with guidelines for the Full Node, the Validator, and Test Grams.
The Securities and Exchange Commission stepped in and put an end to Telegram’s TON crypto token and the company settled with the SEC for $18.5 million while saying that it will return the remaining ICO funds to the investors. However, after the commission paid the venture capitalists and retail investor premiums, the refund process is going to be a lot messier. With so many holes and money changing over hundreds of people along the way, will the investors ever see a full refund of their investment?
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