Tagged: telegram

Telegram Introduces Ad Revenue Sharing Initiative via TON Blockchain

Telegram has recently introduced an ad revenue-sharing initiative through the TON blockchain. In a key development that may transform the current ecosystem of online advertising, Telegram recently unveiled an innovative ad revenue-sharing solution through the TON blockchain/DLT network. This latest announcement has led to a… Read More

$250M Toncoin Ecosystem Fund Launched by Huobi Incubator, Kucoin Ventures, Others

The venture divisions of virtual currency trading platforms Huobi and Kucoin are reportedly among the backers of a $250 million ecosystem fund to support initiatives launched on Toncoin, which is the re-launch of failed blockchain/DLT initiatve, TON. In addition to Huobi Incubator and Kucoin Ventures,… Read More

Qtum Blockchain Developers Reveal How Scammers, Imposters Target Unsuspecting Crypto Users Online

The team and developers at blockchain platform Qtum (QTUM) recently noted that their official Telegram channel is one of their “most popular” social media sites. Qtum wrote in a blog post that it’s great for chatting and troubleshooting with their knowledgeable administrators. Unfortunately, however, this… Read More

Former SEC Senior Counsel Comments on Kik Ruling: Kik Could Have Benefited From Traditional Capital Markets Lawyer

This past week, Kik, a company that raised over $100 million in an initial coin offering (ICO), lost a long legal battle with the Securities and Exchange Commission (SEC). The courts determined that Kik had raised capital in an unregistered securities offering thus transgressing securities… Read More

SEC Commissioner Hester Peirce Addresses Blockchain Association of Singapore, Shares Disagreement Regarding Telegram Enforcement Action & Settlement

What makes something a “distributed ledger or blockchain technology-based” security? SEC Commissioner Hester Peirce has published a speech delivered to the Blockchain Association of Singapore. Unable to attend in person due to COVID-19, Commissioner Peirce visited with the Association virtually, addressing the hot topic of… Read More

Telegram to Shut Down its TON Test Network Next Month, After Paying $18.5 Million Fine to SEC, and Returning Investors’ Money

Telegram, a major social network with hundreds of millions of users, had attempted to raise funds through a digital asset offering. However, it recently decided to settle an enforcement action initiated by the US Securities and Exchange Commission (SEC). As part of the settlement, Telegram… Read More

Telegram Settles with the SEC, Pays $18.5 Million Fine, Returns Money to Investors

Telegram, the fast-growing social network that attempted to raise funds via a digital asset offering, has decided to settle an enforcement action initiated by the Securities and Exchange Commission (SEC). According to a release, the SEC has obtained court approval of a settlement with the… Read More

Former SEC Enforcement Attorney Philip Moustakis Comments on Telegram Decision to Abandon Token Offering: Facts & Circumstances Rule

Earlier this week, it was reported that Telegram has decided to abandon its initiative to launch a blockchain platform called TON (Telegram Open Network) and a cryptocurrency named Gram. The decision was the direct result of an ongoing enforcement action launched by the US Securities… Read More

Telegram to Hand Over Official Communications, Financial Statements, and Other Info Related to its Allegedly Unlawful ICO to SEC

Encrypted messaging service provider Telegram says it will be handing over official communications, bank records and other relevant information to the US Securities and Exchange Commission (SEC). These details are reportedly being provided as part of an ongoing legal battle against Telegram. US authorities have… Read More

Telegram Says it will Be Unable to Offer Previously Promised 110% Refund to US Investors after SEC told Company to Suspend Operations

Encrypted messaging provider Telegram reportedly missed its April 30, 2020 deadline for launching the Telegram Open Network (TON), a blockchain platform (under development) that will be protected by a built-in “anonymizer” and proxy. The TON platform aims to offer messaging, the Gram cryptocurrency, and various… Read More

Telegram to Refund Money from GRAM ICO? Perhaps.

Last Thursday, a letter posted on the Russian website of SmartLab said that Telegram will offer GRAM purchasers the option to receive their money back as the deadline for the issuance of the tokens had passed. Telegram has been in an ongoing legal battle with… Read More

Challenger Bank Zelf to Launch its own Digital Banking Software that will work only via Popular Messaging Apps like WhatsApp

Challenger Bank Zelf is reportedly planning to introduce its digital banking offering which will operate exclusively through widely-used messaging apps. The Latvian Fintech firm claims that it has already signed up more than 58,000 users, who are waiting for the official launch of Zelf’s virtual… Read More

The Blockchain Association Files Amicus Brief in Support of Telegram’s Battle with the SEC

Telegram has been engaged in an ongoing battle with the Securities and Exchange Commission (SEC) regarding the sale of GRAM tokens – an offering that raised $1.7 billion. The legal fisticuffs kicked off last October when the SEC filed an emergency action and obtained a… Read More

Judge Castel: Telegram Fails to Establish Exemption from Registration

The Citizens Jury Wheel Legal Court Trial Justice Judge Law

Yesterday, in an Opinion and Order from Judge P. Kevin Castel, it was decided that Telegram has failed to establish an exemption from the registration requirement under existing securities law. Telegram is an app that is a highly popular messaging service utilized by more than… Read More

Cryptocurrency Custody Firm, First Digital Trust, Secures $3 Million in Funding from Telegram Investor Nogle Capital

Cryptocurrency custody firm, First Digital Trust, which has been spun out from Legacy Trust, a Hong Kong-headquartered financial custodian, has secured $3 million in funding. Telegram investor Nogle Capital, a Taiwan-based investment firm, contributed to First Digital Trust’s fundraiser, according to a report from Tech… Read More

Telegram ICO: A Two-Phase Offering Does Not Inoculate an ICO from Federal Securities Law

As we have previously reported, Telegram is engaged in a legal battle with the Securities and Exchange Commission (SEC) in what may be the biggest SEC cryptocurrency case yet.  One the one side, you have Telegram that raised over a billion dollars from a digital… Read More

SEC: Telegram Has Been Using Funds from GRAM Token Sale to Cover 90% of Expenses at Messenger Division

The Citizens Jury Wheel Legal Court Trial Justice Judge Law

In its latest submission in a case against private messaging app provider Telegram, the SEC claims that, Telegram has been using funds raised to develop the TON blockchain to rather cover operating expenses at the messaging business. Telegram raised $1.7 billion USD from 171 purchasers… Read More

Liquid Crypto Trading Platform Cancels Planned Sale of Telegram’s GRAM Tokens

Liquid, a cryptocurrency trading platform started by Blockstream, announced in a blog post January 10th that it has canceled plans to resell Telegram’s GRAM tokens through the platform. “The Gram Token Sale on Liquid has been canceled,” Liquid writes, “and all funds previously held in escrow by… Read More

SEC: Invoices Show Telegram Sold Tokens Through Brokers After Initial Raise

In the SEC’s January 2nd letter requesting compulsion of bank records from private messaging app provider Telegram, the regulator claimed it had documents showing that Telegram, “paid commissions to purchasers who were buying Grams to resell to other investors…” Brokered sales, the SEC wrote, “render… Read More

Judge Will Allow SEC to Question Telegram Execs on Disposition of TON Blockchain Investor Funds, Bank Records Not Immediately Compelled

The Citizens Jury Wheel Legal Court Trial Justice Judge Law

A judge presiding over case involving the SEC and private messaging company Telegram has ruled that the SEC can ask deposed executives questions about how they have been disposing of $1.7 billion USD raised in 2018 to fund construction of the Telegram blockchain. The SEC… Read More

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