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Revision as of 13:49, 11 June 2019 by SarahRudolph (talk | contribs) (Telegram ICO)
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Telegram Messenger.jpg
Founded August 14, 2013
Headquarters Dubai, UAE
Key People Pavel Durov, Andrei Soldatov
Products Telegram messenger app
Twitter @telegram

Telegram is a messaging platform based in Dubai. It was originally developed in St. Petersburg, Russia, but the team moved to Dubai due to issues with Russian IT privacy policy.[1]

It is considered the preferred messaging platform by individuals in the cryptocurrency space, mostly due to its commitment to privacy and well regarded security.[2]

Telegram ICO

In 2018, Telegram raised $1.7 billion in four months through an initial coin offering. The aim of the ICO was to raise funds for the creation of the Telegram Open Network (TON), a digital network that would allow users of Telegram to send payments across international borders. Promotional materials for the ICO said that 5 billion Grams, TON's native coin, will initially be released to users once the network goes live. Investors would be paid $0.37 per token, according to the document. The developers of TON reportedly worked with the Wall Street law firm Skadden, Arps, Slate, Meagher & Flom. Some of TON's initial investors include the Silicon Valley firms Benchmark, Sequoia Capital, and Kleiner Perkins.[3]

In February 2019, Telegram sent a message to its investors saying that the network was 90 percent done, and that it would hopefully have some version of the system out within a few months.[4]

On June 11, 2019, Liquid, a Japanese cryptocurrency trading platform (CTP), announced that it will launch a forward sale of Grams on behalf of Gram Asia beginning on July 10. According to TechCrunch, Telegram itself does not appear to be involved directly in the sale. The Grams will be released to purchasers once TON is completed and operational, a date that was then forecasted to be for the end of October 2019. Tokens will be released in four equal tranches to buyers over the subsequent 18 months. Gram Asia is reportedly the largest holder of Grams.[5] Liquid is excluding residents from Japan, South Korea, and the Unites States, among other countries, from the sale.[6]