Telegram ICO raises additional $850 million

TON Issuer and Telegram Group have reported raising $850 million to the USA authorities during the new round of the ICO. The acquired funds are going to be spent on further messenger development and on the implementation of TON blockchain platform, according to the publication on The United States Securities and Exchange Commission website.

94 investors took part in the new round of token sales, all of them prefer to stay anonymous. The minimal possible investment  was $1 million, with the average token price at $1,33. The first ICO round took place in February and was also quite successful, raising $850 million from 81 investors.

As was previously reported, the second round of token sales consists of 2 stages. Telegram has currently finished the first stage. The second stage is planned to happen before the end of 2018, the exact date is not available at the moment. According to “Vedomosti”, the token price will be about $2. The developers hope to raise $1,7 billion during the whole second round.

If the TON platform isn’t launched by October 31, 2019, the Telegram team is willing to return the raised money to the investors.

Leave a Reply