Telegram founder Pavel Durov has announced that the project is a blockchain platform Telegram Open Network (TON) in which the investors have invested $1.7 billion, closed. The reason was a lawsuit in the United States, won a Commission at the securities and exchange Commission (SEC). The SEC has recognized the Gram tokens are a valuable paper, which significantly complicate their release. Investors believe the situation could have turned out differently, and talk about the pooling of litigation claims, despite promises to return the funds.On closing of the blockchain-TON project of Pavel Durov said in his Telegram channel in the evening of may 12. He stated the injustice of the judicial system, in which the United States could actually prohibit the implementation of the project even in other countries. “According to the court, other countries do not have sovereignty to decide what is good or bad for their citizens. If the US suddenly decides to ban coffee and to demand the closure of the coffee shops in Italy, because they are accessible to Americans, it is unlikely that someone agreed with it,” said Mr. Durov.TON raised $1.7 billion from several investors, including Russian, at the beginning of 2018. The project was to be launched in the fall of 2019, but this was prevented by the claims of the SEC. The Commission found that the Gram tokens that were acquired by the investors constitute securities, and therefore the entire process had to be registered in accordance with the laws of the United States.The court sided with the SEC. Telegram could not defend their position or to launch blockchain-based platform to a new deadline of 30 April 2020. Telegram already dealt with the question of payment of invested funds. Everything turned out worse than expected, says the co-founder of the platform for CryptoRandom TokenBox Mr Serkis invested in TON: “This is sad news. Until recently, I believed that Paul will fight and will attempt in other jurisdictions to implement the project that have taken investors ‘money will be thrown in the implementation of the TON, and not just for the Telegram”.According to him, investors now have three choices, including just to take the money or leave them as a loan for Telegram. “Another option is to start suing. Now going pool of people who will sue Durov. Spent 28% of investments. Investors in them received nothing, although he could claim a share in the company,” says Mr Serkis. However, he was sure that the alternative scenarios for TON was “to stop now, not worth it.”I agree with that managing partner Da Vinci Capital Oleg headgear (co-owner of a Disruptive Era Fund SP, which translated TON more than $40 million, according to SEC filings). “It is unclear why the film did not go to the issue of security-token (digital analogues of securities.— “Kommersant”), which is not that difficult to do, they are recorded as securities, and this way went Ethereum”. According to him, also “sad to see” run with��Oronogo project TON Labs made on the basis of the code, to which the investors invested a TON.Mr. headgear is considering “various options for further action”. On the strategy thinks and co-founder of “Wimm-bill-Dann” and another TON investor David Yakobashvili. He told “Kommersant” that has not yet seen the statement of Pavel Durov.There are prevailing party: for the same bitcoin like cryptocurrency project closure TON — great news, highlights Exante managing partner Alexey Kirienko. In his opinion, this finale demonstrates “the critical importance of decentralization in such projects”.Dmitry Customerevidence the status of cryptocurrency in mircette next
