Telegram, which managed to raise $ 1.7 billion with two ICOs in total in 2017, has decided to terminate the Telegram Open Network (TON) blockchain project, according to a recently published statement. Knowing that the decision was taken after the last moves of the US financial regulator SEC means that Telegram accepts defeat.
In his statement about the matter, Telegram CEO and founder Pavel Durov said:
“Today is a sad day for Telegram. We explain that our blockchain project will not continue. ”
Telegram Open Network Dotted
In the continuation of the Durov statement, he reacted to the US judiciary and criticized the decision that caused the launch of the Gram token and TON blockchain network to be released. The judiciary stated that this could enter securities status on the grounds that these tokens would be sold to people other than those who invested in this project.
Stating that Telegram’s relationship with the TON project is completely over, Durov also explained that if the news about the project is continuing, they belong to the fraudsters. The TON, which was originally planned to be released in late 2019, was prevented from launching for the second time in the past weeks.
Now, what investors buy TON will do is a big curiosity.