If you haven’t heard about the new Telegram ICO, you definitely should. According to many press releases and news sites, it is one of the biggest one in the blockchain world. The news that the Telegram ICO has raised $850 million since January 29th (when the token sale began) also makes it the biggest fundraising ICO ever launched.
Even though there are only 81 investors contributing to the funding round, it seems that Telegram got a hefty investment from each one of them. The average sits at just below $10.5 million and there are many investors who have hopes up for a bright future.
In case you didn’t know, Telegram reported its ICO under the Rule 506(c) of the Securities Act Regulation D. This stipulates that “unregistered securities issuers may raise an unlimited amount of money and generally advertise the offering as long as they restrict contributions to accredited investors, file a report with the SEC, and prevent investors from selling their stakes for a predefined vesting period of either six months or one year.”
Telegram hasn’t been in the news lately when it comes to its token sale. However, the firm was believed to be targeting around $600 million during its presale. The figure was boosted by 42% and now the Telegram ICO is one of the biggest ICOs on the market.
According to some expectations, the ICO may raise more than $1.2 billion by its conclusion. What’s certain is that the Telegram ICO has put the Filecoin ICO fundraising project and the $257 raised to shadow. This is mostly because of the Telegram Open Network (TON) whitepaper where Telegram announces planning of launching a “third generation blockchain” that will be scalable by pairing a master chain with numerous sidechains.
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