Rumors: Telegram’s public token sale scrapped

Telegram Open Network’s public ICO might have been abandoned due to the difficulty of negotiations with the United States Securities and Exchange Commission (SEC) and other regulators, as told by two independent media outlets citing unspecified sources.

The media provides two possible reasons for this decision: the approach of the SEC towards ICOs has lately become stricter and those two stages of token sale for private investors might have been so well that there is no financial need for the public one.

The mysterious project called Telegram Open Network (TON) has become a theme for unverified speculations and even fraud schemes shortly after the first days of the initial leaks of its existence. CEO of Telegram Pavel Durov has never directly confirmed its development, instead offering to keep an eye out for any official announcements and not to trust scams connected with his enterprise. With equal probability, this new wave of rumors might become refuted in the near future or confirmed by others, as the current pool of cited sources is not very wide.

As a reminder, two stages of token sale for private investors (both previously described on Bitnewstoday) have attracted $850M each, with 81 financiers during the first sale and 94 investors at the second.

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