By Valeria Grekova
March 30th, 2018

Telegram attracts $850 million in second round of ICO

By Valeria Grekova

Telegram attracts $850 million in second round of ICO

Verified
8 months ago
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The document is published on the SEC website. The ICO provided necessary resources for the development of the Telegram messenger application and its own blockchain platform Telegraph Open Network (TON).

Earlier in the pre-sale phase, Telegram attracted $850 million from 81 investors. Some sources claimed that Telegram actually received bids for $ 3.8 billion. While the investors’ identity is not disclosed, there were speculations that Russian billionaire Sergey Abramovich was among them.

According to Russian news agency Vedomosti, one of the investors claims that the messenger is planning to arrange the third round of ICO before the end of the year, but its terms are still unknown.

The whitepaper states that the messenger is going to provide a service for external authentication of Telegram External Secure ID users in the first quarter of 2018. And in the second quarter of the year, Telegram promised to launch testing of the minimum functioning version of the TON blockchain platform.

Vladimir Smerkis, the head of Token Fund, explains:

“Meanwhile, Durov brothers raised $850 million more during the second phase of  Telegram’s ICO. Thus, in two rounds it was possible to raise 1.7 billion USD. I know about plans to arrange the third round in December, which may be open to the public or closed just as the previous two were. The distribution of tokens is also tentatively scheduled for December 2018. Let me remind you that Durov brothers, unlike their colleagues in the ICO workshop, are collecting [funds] in the fiat, not in the cryptocurrency. Judging by the trend, this ain’t for nothing”.