How did Telegram lose a million dollar bet related to cryptocurrency?

3 answers

• Feb 19, 2022 · 3 years ago
  Sure! So, the story goes like this. Telegram, the popular messaging app, had plans to launch its own cryptocurrency called Gram. They conducted an Initial Coin Offering (ICO) and raised around $1.7 billion from investors. However, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Telegram, claiming that the ICO violated securities laws. As a result, Telegram had to abandon its plans and return the funds to investors. This legal battle cost Telegram a significant amount of money and they ultimately lost the bet on their cryptocurrency venture.
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• Feb 19, 2022 · 3 years ago
  Well, it all started when Telegram decided to enter the cryptocurrency market with their own digital currency. They raised a massive amount of money through their ICO, but unfortunately, they ran into legal troubles. The SEC argued that Telegram's ICO was an unregistered securities offering, which violated U.S. laws. This led to a lengthy legal battle, and in the end, Telegram had to give up on their cryptocurrency project and return the funds to investors. It was definitely a costly bet that didn't pay off for Telegram.
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• Feb 19, 2022 · 3 years ago
  Ah, the infamous Telegram cryptocurrency bet. It was quite a rollercoaster ride for them. Telegram had high hopes for their Gram token and managed to raise a staggering amount of money through their ICO. However, things took a turn for the worse when the SEC stepped in and accused Telegram of conducting an illegal securities offering. This legal battle drained Telegram's resources and forced them to abandon their cryptocurrency plans. It was a tough blow for Telegram and a lesson for others in the industry.
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