Telegram open network, the long-awaited blockchain of Telegram will finally launch at the end of October according to the reports in the coming altcoin news we have today.
The gram tokens of the network are still yet-to-be issued and are now trading in an unauthorized secondary market. The company still has to publicly acknowledge the project but the investors in the last year’s $1.7 billion token offerings are now seemingly selling their gram allocations via the OTC desks, exchanges and similar. Buying tokens this way could be very risky according to investors as Telegram prohibited investors from re-selling their allocations under a penalty when terminating the contract. The secondary market has improved for the future token of the Telegram open network and between the OTC desks, sales on small crypto exchanges and investments funds, the opportunity to buy tokens before launch date are hard to find.
The investors who bought into the Telegram’s $1.7 billion offerings back in February and March are now not allowed to pledge or sell their tokens in any way before the launch. The original purchase agreement says that if some investors dispose of their future tokens before the Telegram Open Network or TON is life and the allocation can be canceled. One of the investors stated:
“Telegram was the first big project that legally prohibited investors from selling their allocation. Investors usually just share their allocations with friends, without signing documents.’’
The purchase agreement which was written for Telegram by the US legal powerhouse Skadden, Slate, Meagher, and Glom LLP according to one investor stipulates that the buyers of grams may not offer pledge, swap, sell and encumber or dispose of their tokens directly and indirectly. The investors may sell any securities convertible into or exercisable or exchangeable for the investment contract between an investor and the company. The issuance of the tokens is conditional upon the investors’ compliance with the rule. One investor stated for the latest cryptocurrency news:
The future issuance of tokens is conditional upon the investor’s compliance with this rule. If Telegram learns the investor broke the agreement, it can cancel the allocation.
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German Government To Combat Libra With New Blockchain Strategy
‘’Up to now, the economy has done a great job in countering crises and inflation with measures taken by central banks. Once a digital currency provider dominates the market, it will be quite difficult for competitors.’’Rather than Libra entering the market in Germany, the authorities appear to be in favor of creating a new state-backed digital currency which will run on the Bundes chain. Part of Germany’s proposed blockchain strategy involves creating a simple framework for crypto startups in the country. As it was previously reported in some of the best cryptocurrency news sites, BitBond in 2019 launched the first even regulated security token offering in Germany. According to Heilmann, the German government hopes that the new blockchain strategy will help the local crypto startups to enjoy the competitive advantages of the market over foreign counterparts. There is also very little information on how the government-run Bundes Chain will incentivize the private participants. For the crypto analyst Alex Kruger, some of the other countries will copy the approach Germany has with the emerging cryptocurrency and blockchain technology industry. Also, the French Finance Minister Bruno Le Maire declared that the country will also work towards blocking the libra crypto project in Europe. Le Maire also explained that Libra is a huge threat to the economic sovereignty of Europe. In China, the central bank is also trying to launch the digital yuan project which is a part of the efforts to block Libra.
Crypto Lawyer Claims: The Lost Mt.Gox Funds Can Be Recovered
“Our plan is to represent the Mt.Gox creditors and help them report to Russian law enforcement so that the investigators could establish the connection between the stolen funds from Mt Gox, the operations of BTC-e and WEX, using Vinnik’s case.’’ZP Legal claims to have successfully recovered as much as $1 million of the funds on behalf of an unnamed client from another exchange based in Russia as we read in the latest cryptocurrency news.
Sportsbet.io Made Smart Partnership With Premier League Watford FC: CZ
“The crypto community have been hugely supportive of us since we began, so putting the Bitcoin logo on the sleeve felt like a fun way to give something back while also showing them our support.’’Sportsbet.io is the first crypto-based company that has its name and logo appear on a Premier League club jersey. The football club will give its fame to the number one cryptocurrency at a time when the price of BTC is outpacing any other cryptocurrency in both yearly gains and trading. The latest move by the platform attracted the attention of the CEO of binance ‘’CZ’’ or Changpeng Zhao who is a huge proponent for crypto adoption. The Binance CEO explained on social media and to its followers on Twitter mostly, that this is a very smart and strategic partnership making the team go into a viral sensation. Sportsbet.io explained the decision to put the logo on the jerseys is a way to say thank you to the crypto supporters that used their services. The crypto community was not so keen on Bitcoin in the summer of 2018 as the community tried to buy a featured ad on the Super Bowl half time show but the NFL moved in to totally ban Bitcoin from being presented as one of the most viewed advertising slots. The crypto advertising industry is still a very contentious topic because some projects are able to reach a huge audience which later leads to large-scale scamming. Bitcoin has never had that kind of advertising campaign but being featured on jersey will definitely boost its visibility as per the analysts and reports for our latest cryptocurrency news.
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