Telegram TON Will Return $1.2B But Will The Investors Get A Refund?


Telegram TON will return $1.2 billion from the failed crypto but the question remains, will the investors get a refund? We are trying to find out in the latest cryptocurrency news below.

The Securities and Exchange Commission stepped in and put an end to Telegram’s TON crypto token and the company settled with the SEC for $18.5 million while saying that it will return the remaining ICO funds to the investors. However, after the commission paid the venture capitalists and retail investor premiums, the refund process is going to be a lot messier. With so many holes and money changing over hundreds of people along the way, will the investors ever see a full refund of their investment?

Telegram is a private and encrypted cloud-based instant messaging IP service while the messaging app is popular mainly with the crypto users because of their privacy features that are offered. The accounts can even self-destruct after being inactive for a while.  The popularity with crypto users made the company try and monetize the platform over the debut of a crypto protocol and token which was the Telegram TON open network. Telegram TON will refund the money after raising more than $1.7 billion from investors in the TON initial coin offering in 2018 as the investors glued to the token in droves.

The United States Securities and Exchange Commission filed the suit against the company for an unregistered securities offering. Telegram refused to admit any wrongdoing but it settled later with the SEC for $18 million in fines as the company agreed to return $1.2 billion worth of the remaining $1.7 billion in funds raised during the first ICO. The initial coin offering is a high profile ICO which means it had a more convoluted investment process than most others. ICO investors will send BTC or ETH to a whitelisted crypto wallet and once the ICO launched the newly issued tokens will get deposited into a corresponding supplied crypto wallet.

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With TON, three-quarters of that sum was “syndicated downward toward retail investors” at a premium. Venture capitalists offering ICO exposure to the ICO to clients that would have taken the commissions. Even if they sort out the accounting nightmare, it will be the smallest time retail investors that lost a lot from the fallout of the ICO. With the ICOs now being in the past, crypto investors are a lot safer because of it.

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