Gram Investors Agree to Delay TON Launch Till April
- With this, the company will invest another $80 million on the project.
Investors of Telegram’s Gram token have approved the company’s suggestion to postpone the launch of its Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term project from October 30 to April 30 next year.
Citing two anonymous sources close to Telegram’s team, Forbes Russia, on Wednesday, reported that the investors voted against the return of their funds on the failure of the launch of the blockchain project on a pre-decided deadline.
The encrypted messaging platform was set to launch its blockchain platform by October 30. However, an emergency restraining order obtained by the Securities and Exchange Commission (SEC) in the United States against the launch of the token created a roadblock for the company.
The regulator alleged that Gram tokens fall under the category of securities, and the company violated US securities laws by selling unregistered securities.
No refund is necessary
In its original Whitepaper Whitepaper A whitepaper is defined as a pitch or persuasive, authoritative, and often in-depth report on a specific topic that presents a problem along with a respective solution. Marketers rely on whitepapers for a variety of reasons, most simply to educate an audience about a particular issue or to promote a particular methodology. In the cryptocurrency world, a whitepaper is a document that should contain all of the information about the technology that was used to build a cryptocurrency network, and ho A whitepaper is defined as a pitch or persuasive, authoritative, and often in-depth report on a specific topic that presents a problem along with a respective solution. Marketers rely on whitepapers for a variety of reasons, most simply to educate an audience about a particular issue or to promote a particular methodology. In the cryptocurrency world, a whitepaper is a document that should contain all of the information about the technology that was used to build a cryptocurrency network, and ho Read this Term published before the launch, Telegram promised its investors that if the company failed to launch its blockchain project by the specified deadline, it would issue a refund to the investors.
Amid the SEC’s move against the project, the company sought permission from the investors to delay the deadline. It also provided the option of receiving a refund of 77 percent of the investments in case of any disagreement over the launch delay. The separate permissions were obtained from the investors of the two token sale rounds.
Though the court hearing was originally scheduled for today, the judge extended the hearing until February 18-19 next year, forcing the project to stop distribution its tokens.
“The February hearings are different from the earlier scheduled for October 24, because at these hearings they should only consider the possible postponement of the launch of the platform,” a letter to the Gram investors stated.
“We and our advisers will use the time to ensure that at the February hearing, the Telegram position is presented and supported as much as possible.”
Investors of Telegram’s Gram token have approved the company’s suggestion to postpone the launch of its Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term project from October 30 to April 30 next year.
Citing two anonymous sources close to Telegram’s team, Forbes Russia, on Wednesday, reported that the investors voted against the return of their funds on the failure of the launch of the blockchain project on a pre-decided deadline.
The encrypted messaging platform was set to launch its blockchain platform by October 30. However, an emergency restraining order obtained by the Securities and Exchange Commission (SEC) in the United States against the launch of the token created a roadblock for the company.
The regulator alleged that Gram tokens fall under the category of securities, and the company violated US securities laws by selling unregistered securities.
No refund is necessary
In its original Whitepaper Whitepaper A whitepaper is defined as a pitch or persuasive, authoritative, and often in-depth report on a specific topic that presents a problem along with a respective solution. Marketers rely on whitepapers for a variety of reasons, most simply to educate an audience about a particular issue or to promote a particular methodology. In the cryptocurrency world, a whitepaper is a document that should contain all of the information about the technology that was used to build a cryptocurrency network, and ho A whitepaper is defined as a pitch or persuasive, authoritative, and often in-depth report on a specific topic that presents a problem along with a respective solution. Marketers rely on whitepapers for a variety of reasons, most simply to educate an audience about a particular issue or to promote a particular methodology. In the cryptocurrency world, a whitepaper is a document that should contain all of the information about the technology that was used to build a cryptocurrency network, and ho Read this Term published before the launch, Telegram promised its investors that if the company failed to launch its blockchain project by the specified deadline, it would issue a refund to the investors.
Amid the SEC’s move against the project, the company sought permission from the investors to delay the deadline. It also provided the option of receiving a refund of 77 percent of the investments in case of any disagreement over the launch delay. The separate permissions were obtained from the investors of the two token sale rounds.
Though the court hearing was originally scheduled for today, the judge extended the hearing until February 18-19 next year, forcing the project to stop distribution its tokens.
“The February hearings are different from the earlier scheduled for October 24, because at these hearings they should only consider the possible postponement of the launch of the platform,” a letter to the Gram investors stated.
“We and our advisers will use the time to ensure that at the February hearing, the Telegram position is presented and supported as much as possible.”