-
NFL and Crypto’s Growing Entanglement - 7th December 2021
-
Gambling with NFTs and Crypto - 17th June 2021
-
What Exactly is Bitcoin Mining? - 26th April 2021
-
Cryptocurrencies Over The Past Three Years - 12th March 2021
-
Online Crypto Gambling in Canada - 3rd March 2021
-
Some Tips on Crypto - 2nd March 2021
-
Where Does Ripple Fit Into The History of Money? - 2nd March 2021
-
Bitcoin Trading Tips - 4th February 2021
-
The Top Trends In The Fintech Sector In 2021 - 29th December 2020
-
What You Need To Know When Trading Stablecoins - 19th December 2020
Telegram ICO Breaking All Records
According to a document signed by Telegram CEO Pavel Durov and filed with the U.S. Securities and Exchange Commission (SEC) this week, the Telegram ICO has amassed a staggering $850 million in its pre-sale phase.
The figure, raised entirely from venture capital firms, exceeds the $600 million originally forecast for this round of funding.
Expansion of Existing Services
It is the highest amount accumulated from a pre-sale to date and dwarfs the closest comparisons from previous completed ICOs such as by Filecoin ($257 million) and Tezos ($232 million).
As reported last month, the money raised will go towards the development of the TON blockchain and is described in the filing as “purchase agreements for cryptocurrency.”
Telegram, a popular platform within the crypto community, is also looking to use the funds to widen its range of services to include VPN solutions, file storage and peer-to-peer micropayment transactions.
Questions now arise of how this increase in initial funding will effect the proposed public sale scheduled to begin in March. Signs are, however, that the public sale is proceeding and will be heavily oversubscribed.
A minimal viable product (MVP) of the TON blockchain is planned in Q2 of 2018, with a wallet service pencilled in for the end of the year. Full service is expected in 2019.