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.
IBM And Stellar Partnership In Jeopardy Amid Exec Disruption
South American Online Marketplace Works With Facebook On Its Crypto Project
Gold-Backed Russian Crypto Could Crush The USD Standard
“As for mutual settlements, we will consider, of course, a proposal on a cryptocurrency that is tied to gold. But, in my opinion, it is more important to develop settlements in national currencies.”Nabuilna explained that CBR is still unsure whether to use cryptocurrencies and how they could be launch into Russia’s monetary system but the idea of a zero-volatility digital asset is inviting:
“The CBR, in principle, is opposed to cryptocurrencies being launched into our monetary system. We do not see the possibility that cryptocurrencies fulfill the function of monetary surrogates. We have prepared an analytical report and will soon present it which will analyze what cryptocurrency is, what is happening in the world, what approaches different countries to have, and what regulation is envisaged. And, if the phenomenon of cryptocurrency in any perspective may cause risks to our macroeconomic stability, we need to understand that.”As noted in one of the best cryptocurrency sites, Russia is under significant economic sanction from the United States.
Crypto Trading In The US Becomes A Nightmare, What’s The Solution?
Join us on Facebook
- IBM And Stellar Partnership In Jeopardy Amid Exec Disruption
- Bitcoin Ignores Correction Calls: Where Is BTC Headed?
- South American Online Marketplace Works With Facebook On Its Crypto Project
- South Korean Exchanges Increase Liability Following Demands From Regulators
- Samsung Taps Blockchain And 6G, Seeks Collaboration With Firms
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
Regulation5 days ago
Financial Action Task Force Wants To Turn BTC Exchanges Into Banks
Ethereum News2 days ago
Ethereum Will Skyrocket By 70% Against BTC: Analyst Prediction
Bitcoin News3 days ago
Bitcoin Tax Evasion Will Be Criminally Punishable: IRS Warns
Bitcoin News3 days ago
Weiss Ratings Upgrades Bitcoin From B- To B: Report
Altcoin News3 days ago
Bitcoin Wraps Around $8,200: Consolidation Could Happen Soon
Bitcoin News4 days ago
Call Center Scam From India Steals $1.7 Million In Bitcoin
Blockchain News5 days ago
Erik Finman Will Bring Crypto To The Masses With The Help Of CoinBits
Altcoin News1 day ago
Hottest Cryptocurrency Is Up 330% This Year (And It’s Not Bitcoin)