It seems that only a few TON investors will stay with Telegram and will wait for the 110% refund until April 2021 after the official termination as we are reading further in the latest crypto news.
Telegram officially terminated the involvement planned in the blockchain project and the Telegram Open Network with the GRAM token. By ending the long-running legal battle with the United States regulators, Telegram will have to sort out a $1.7 billion raised in the initial coin offering in 2018. Right before abandoning the TON project, the CEO of Telegram and founder Pavel Durov, introduced a reimbursement scheme that offers the TON investors two choices: immediate 72% refund or a 110% refund in a year.
According to a report by Forbes Russia, most of the TON Investors chose to get their money back as soon as they can while Disruptive Era Fund, one of the biggest investors said that more than 80% of the fund investors are preparing to withdraw from the project to get the refund. Disruptive Era Fund invested more than $70 million and added that most of the TON investors decided to choose the option. The decisions were not finalized yet as a spokesperson told Forbes.
A lot of TON investors opted for an immediate refund option as the executive director of the investment firm Exante Anatoly Knyzaev, revealed that Telegram reimbursed 72% of the investment. Knyazev added that Telegram didn’t force the investors to stay in the project. The American investors accounted for more than $424 million in TON’s ICO. The total number of investors reached 175 entities and 39 investors only from the USA.
While most of the people that invested seem to be leaving the platform for a 75% refund, some of the other investors have not made their decision so far. David YAkobashvili who is a co-founder of Wimm-Bill-Dann Foods invested more than $60 million. He said that he is still in a negotiation process for loan opportunities with Telegram despite the deadline to May 15. There are others that want to support Telegram for the 110% refund in April 2021. The co-founder of Qiwi group Sergey Solonin decided to reissue the investment as a loan to Telegram as per the latest reports.
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