Telegram Might Postpone Issuing Its Gram Tokens till 2020

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Telegram Might Postpone Issuing Its Gram Tokens till 2020
According to the current reports, Telegram is seriously considering the temporary abandonment of its plans to issue Gram tokens due to problems with the SEC.
Telegram Might Postpone Issuing Its Gram Tokens till 2020

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Source: CoinSpeaker

Breaking: SEC Orders to Halt Telegram’s $1.7 Billion Gram Token Sale

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Breaking: SEC Orders to Halt Telegram’s $1.7 Billion Gram Token Sale
Telegram faces a major roadblock in releasing its Gram tokens on the native TON network as the SEC slaps a restraining order on its token-sale calling its “unlawful”.
Breaking: SEC Orders to Halt Telegram’s $1.7 Billion Gram Token Sale

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Source: CoinSpeaker

Telegram Finally Releases Terms of Service for Its Gram Wallet

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Telegram Finally Releases Terms of Service for Its Gram Wallet
Messaging giant Telegram eventually released official details on its yet-to-be-launched Gram wallet and token.
Telegram Finally Releases Terms of Service for Its Gram Wallet

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Source: CoinSpeaker

Telegram ICO Tokens Worth $1.7 billion in Circulating in the Black Market?

Telegram, a cloud messaging service with over 200 million users, announced its Telegram Blockchain Network (TON) in early 2018. It conducted the sale of its’ cryptocurrency – Gram through a private ICO in February and March 2018. The SAFT (Simple Agreement for Future Tokens) sale, which was only sold to accredited investors. The deal brought in about $1.7 billion.
Gram tokens were sold at a price of around $1.33 and $0.67 initially in the private ICO. A year later, as reported on Coingape, South Korea’s Gram Asia, the largest holder of Telegrams’ cryptocurrency sold it through the Japanese Liquid exchange. Reportedly, this time, each token was sold at $4 a price; generating about 200% profit for its’ investors.
Investors Selling Their Tokens Early
Reportedly, a secondary ‘black market’ has blossomed for the coveted cryptocurrency. There are many over-the-counter (OTC) desks, sales on small cryptocurrency exchanges, and at least one investment fund which is allegedly selling those tokens in the market.

Currently, all that Gram investors have for their purchase is a guarantee of their stipulated amount of tokens from Telegram. These tokens will be distributed to investors after the launch in phases that extends over a year.

The OTC markets are broadly facilitating these deals through IOUs between the buyer and seller. Telegram is not involved in it. However, given the recent reports, Telegram will be expected to take actions to enforce the agreement ethically.

According to their agreement, the investors are prohibited from selling their holdings before the launch. The agreement said that “If Telegram learns the investor broke the agreement, it can cancel the allocation.”

Hence, the deals conducted are not legally binding, being classified under ‘handshake deals.’ People are selling these tokens to friends and known associates at a considerable profit with very little accountability.

Furthermore, while the deals conducted through trusted OTC desk could still go through. Many small exchanges are taking advantage of the situation and selling a fake agreement to its users. Vladimir Cohen, an OTC trader, told the media,

“Many of the buyers will end up with nothing when the network is launched,”

Does Telegram have Anything to Show for its $1.7 billion Investment?
TON is expected to go live by the end of Q3 of 2019. Nevertheless, until now, no development has been witnessed around it. The only positive development around it was the Testnet launch earlier this year.
Francis Pouliot, a leading Entrepreneur in the space and Founder of BullBitcoin noted,
Where are the 1.7 billion dollars of the Telegram ICO? Afaik all they have to show for their 1,700,000,000$ of financing is this and as far as I can tell nobody seems to give a shit

Greedy anti-Bitcoin Maximalist “blockchain/token/altcoins” professionals are the root problem

Moreover, the ton.org site has not been developed as well. Pouliot also accused the issuers and investors of the token of scheming “shady public financing schemes” to launder money and dupe investors.

Do you think that Telegram must take accountability of the issue? If yes, How? Please share your views with us. 
The post Telegram ICO Tokens Worth $1.7 billion in Circulating in the Black Market? appeared first on Coingape.
Source: CoinGape

Official – Telegram Releases TestNet for its TON Token [Telegram Open Network]

HmmNow it is confirmed. Yes, rumors spread the similar news of TON TestNet earlier this week, however, it is officially announced and confirmed. Telegram has officially released testnet for its TON token (Telegram open network).
TON Testnet Blockchain Lite Client
This news was first spread on the web after the Github user uploaded its first version of TON blockchain light client on May 25, 2019. However on May 30, 2019, files seen on test.ton.org which confirms that the messaging service platform Telegram is finally heading up with its TON token. The files are the preliminary version of the TON testnet Lite client version alongside TON blockchain library.
The files are available to download and the development is seemingly a simplified stable version of the Lite Client. However, the files which had updated by Github user earlier was able to get configured properly and it was successfully connecting the user to the full node of the TON blockchain testnet.
When Telegram first announced its TON blockchain project, it stated that it will offer smart contracts, upgradeable formal blockchain features, support for micropayment channels, also off-chain payment networks. Having said that, users besides Lite client files can also download configuration file which will enable them to develop smart contracts.
Accordingly, these configuration files will let the user connect with the special server and begin creating new smart contracts, review the existing contracts as well as enable them to send external messages to smart contracts.
Also Read: Coinbase Considering Margin Trading Option, Is It Following the Suite of Binance?
Moreover, it was earlier stated that the TON blockchain was set for private beta testing available only for selected developers. The TON blockchain resulted in ‘extremely high transaction speed’ according to anonymous tester while nothing specific disclosed.
TON whitepaper reads the feature of the platform as follows;
“TON blockchain can handle millions of transactions per second if necessary, and both user-friendly and service provider-friendly.”
Additionally, it was also reported that that TON’s TON Labs joined hands with European financial service entity Wirecard with a mission to develop digital financial services, payments, and banking platform.
Image source – Reuters
The post Official – Telegram Releases TestNet for its TON Token [Telegram Open Network] appeared first on Coingape.
Source: CoinGape

Top 5 Crypto and Blockchain Events We’re All Waiting for in 2019

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Top 5 Crypto and Blockchain Events We’re All Waiting for in 2019

While that the cryptocurrency industry is going through a very rough phase, here are the five events expected to set the growth trajectory of the crypto market in 2019.

Top 5 Crypto and Blockchain Events We’re All Waiting for in 2019

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Source: CoinSpeaker