The most downloaded messaging app in the world the Telegram (with 400 million users worldwide) in a note to Investors, announced that their TON Blockchain has been postponed for one more year and is ready to return the initial investment made by creditors in two ways.
Telegram that is in a legal battle with SEC( US security exchange commission) since October of 2019, when the Yank regulator accused the Messaging media company of conducting an illegal ICO that funded their plans to build the TON Blockchain Network with $1.7 billion is now prepared to return this initial funding for creditors in two ways. If the investors want an immediate refund Telegram is ready to pay back 70% of their initial investment (~$1.2 billion) or they could wait until April 30, 2021 to have it with an increase of 110% as a second option to be paid!
This News was released today, the day when the TON blockchain network was planned to be live. As reason to not launch it the Telegram Management cites the recent court decision that force the messaging firm to only release the TON Blockchain network when the dispute with SEC has been solved.
All the details how this repayments could be paid of the investors will be informed on the proper channels, and as cites the broadcast released today if they decide to take the second option could be repayed also with Gram Tokens or on other cryptos by April 2021, and they just need to communicate the Telegram what position they decided to follow.
Sincerely I believe that most of investors will take a second option as they waited until now to see the TON Blockchain network to be alive and see their money gain profits from it, but if they prefer to take now they could have it back and use to invest with other business!
Let's see what the next days reserve to us!
#staysafe from COVID-19 (I have been in emergency state for 30 days and one more month added to it) well I believe this will end soon!
Republished article find also at Uptrennd from my authorship.
**Image from Telegram twitter account with no infringement copyright.