Telegram’s token sale which was previously sold to accredited investors only and is the biggest ICO ever is finally offered to the public. Let’s find out more about the token sale in the coming altcoin news.
The messaging giant’s Gram token was sold to investors previously and as reported by TechCrunch, a limited sale of the Gram token will not take place on the Liquid exchange starting from July 10. The offering comes before the full public sale which was planned initially for October. The cost of the token and the targeted total for the funds raised is not being disclosed yet.
The sale is being arranged via Gram Asia which TechCrunch explains is a Korean entity claiming to the biggest Gram token holder. Grams have been sold previously to accredited investors in Telegram’s ICO token sale which was two-phased in February and March 2018 which also brought around $1.7 billion.
The gathered funds were used to develop the Telegram Open Network (TON) which is a blockchain-based open network aiming to decentralize the many facets of digital communication, ranging from browsing, transactions and file sharing. According to the Gram selling webpage on Liquid’s webpage, ‘’TON brings speed and scalability to a multi-blockchain architecture that addresses the need for minimal transaction times and airtight security.’’
Reports in the latest cryptocurrency news stated that the token sale is open to all investors around the world with some countries that were excluded including the United States and Japan most likely because of the fears that the token could be considered as a security in these regions. Whether Telegram will eventually hold a public sale at all has the community doubting due to the regulatory risks. It is also worth mentioning that any Gram token sold in the coming offering will not be tradeable right away. According to the website:
“The tokens being sold will not be released until after TON goes live (mainnet release), in accordance with the delivery schedule. Purchasers will not be able to transfer, withdraw, or trade the Grams before they are released.”
Investors that have signed up to Liquid for the token sale, can now purchase the gram token with US dollars or the USDC stablecoin.
Crypto Custodian BitGo Hires Xapo Vice President As New CRO
“Pete has a deep understanding of capital markets and an exceptional breadth of experience in financial services. This makes him a perfect partner for institutional investors who are entering the cryptocurrency market. We’re building the financial infrastructure of the future and Pete’s experience in both traditional financial markets and cryptocurrency will be critical.”The crypto custodian BitGo is one of the more stable companies out there - and Najarian's knowledge and skill set will definitely help the company. According to his LinkedIn profile, we can see that Pete Najarian has previously served as the global head of emerging markets sales at the Royal Bank of Scotland and has also been head of institutional client coverage - APAC at the financial services firm UBS (as well as other positions). Before this, the latest cryptocurrency news also showed that the crypto custodian BitGo has been expanding its presence to Japan this month - and is planning to substantially grow its Japan-based team. The expansion follows hiring a sales director for the Tokyo office of the firm. In May this year, the crypto custodian BitGo appointed a veteran Wall Street trader named Nick Carmi as its head of financial services - a hire which ostensibly intends to forge stronger connections between digital assets as well as the traditional financial sphere. Meanwhile, the latest Bitcoin and coming altcoin news show that there is a mix of greens and reds in the market, with the reds being more dominant as the crypto market suffered from another dump this Tuesday.
P2P Dash And Bitcoin Transactions Skyrocket In Venezuela
‘’In countries where residents are under pressure from economic mismanagement, Bitcoin trading becomes critical. Two factors drive Bitcoin trading: one, there is pressure to purchase Bitcoin using local currency before it loses even more value; and two, there is a need to redeem for the local currency either past purchases or purchases made outside the country by friends/family, enabling residents to cope with rising prices. This results in an increase in Bitcoin trading in the local currency.’’
Trading Platform Giant Binance Announces The Launch Of Venus
“We believe that in the near and long term, stablecoins will progressively replace traditional fiat currencies in countries around the world, and bring a new and balanced standard of the digital economy. We hope to achieve a vision, that is, to reshape the world financial system, allow countries to have more tangible financial services and infrastructures, protect their financial security and increase the economic efficiency of countries.”Venus is an open blockchain project that will develop localized stablecoins and digital assets pegged to fiat currencies so Binance will start providing full process technical support, compliance risk control and multi-dimensional cooperation network in order to build the new cryptocurrency but also will leverage its existing infrastructure and regulatory establishments according to the co-founder of Binance. The exchange also noted that they welcome more governments, companies, and organizations that have a huge influence on a global scale in order to collaborate with it for the new Venus initiative. Facebook’s cryptocurrency Libra has a similar structure. The goal is to serve the unbanked people and to facilitate low-fee money transfers around the world. Libra is expected to go live in the year 2020 but it has already faced scrutiny from many banks and politicians around the world. Facebook has stated recently in a risk disclosure filed with the Securities and Exchange Commission that Libra will never launch because there is no significant regulatory scrutiny. Binance, on the other hand, stated that it believes that Libra will grow at an exponential rate and will, therefore, reshape the world financial system. They also noted that Libra could bring changes more than the Internet did as per the announcements that we have in the latest cryptocurrency news:
“Instead of resisting change and losing the opportunity, it is better to embrace change. […] At the same time, ‘Libra’ needs to be developed in an orderly manner under the regulatory framework.’’
Bitcoin Breaks Resistance As Other Altcoins Awaken This Monday
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