The average crypto enthusiast isn’t likely to get their hands on grams – Telegram’s crypto token – anytime soon.
While half of the ambitious $1.2 billion the messaging giant hoped to raise was supposed to come from an ICO open to public investors, recent SEC filings confirm Telegram has already raised $1.7 billion from two private sales. Now, sources with knowledge of the deal believe the company is likely to scrap its public sale altogether.
The reason? Raising money from the public could be way more trouble than it’s worth.
For one, Telegram’s blockchain, called the Telegram Open Network (TON), hasn’t been built yet.