Telegram proposed to investors of its ICO (Initial Coin Offering) to agree with a new launch of the Gram cryptocurrency by April 30 or to give back 77% of the money invested. The company gave time to make a decision until October 23.
To extend the cryptocurrency launch deadline, the founder of the company, Pavel Durov, must obtain the consent of most investors. If the final date is postponed, an additional $ 80 million will be required.
The letter was received by investors from the first round of ICO (pre-sale) and the second (Stage A). It may happen that investors in one round agree to the deadline transfer, while others do not.
Earlier, the US Securities and Exchange Commission (SEC) demanded a ban on the issuance of Gram and managed to suspend the ICO, under which Mr. Durov’s company had already raised $ 1.7 billion. The developers promised to transfer Gram tokens to investors if the launch of TON will take place no later than October 31. Telegram can no longer sell or distribute its tokens in the USA.