US investors will not be able to get 110% of the funds invested in the TON crypto project
The team of Pavel Durov decided to ban American investors from participating in the Telegram Open Network (TON) cryptocurrency project for another year. It is reported by The Bell, citing its sources.
In particular, it was stated that Telegram sent a letter to American investors stating that they would not be able to stay for another year in the TON project.
Thus, players from the United States participating in the placement of Gram tokens will not receive 110% of their investment. They will ultimately receive 72% of the funds from the Durov company.
Sources cited by journalists confirmed the fact that investors of the TON project received such a letter. It says that at the end of April, Gram developers offered investors two scenarios.
In the first case, they were offered to return 72% of the invested funds. In the second scenario, Telegram promised in 2021 to return already 110% of the invested capital.
Now it has become known that the American players participating in the ICO will definitely not be able to use the second scenario. This is due to a lawsuit initiated by the Securities and Exchange Commission (SEC).
Note that in 2018 Telegram raised $ 1.7 billion to launch its token. Initially, the launch of the TON network for operations with Gram coins was supposed to take place in October 2019. However, by a decision of the New York District Court, the blockchain platform did not exist, and the placement of the cryptocurrency was suspended.