TON, which raised US $ 1.7 billion, has ended, and Telegram officially no longer participates in the project

Pavel Durov, founder of instant messaging tool Telegram, wrote a blog post announcing the termination of the blockchain platform TON developed by his team, saying that the Telegram team no longer participates in the blockchain project, and any blockchain projects that use the name in the future It has nothing to do with the Telegram team. “Some of the blockchain networks that use the technology we developed for TON may appear, but we will not be related to it, nor can we support these projects.” The article written by Pavel Durov also attacked the US court’s injunction on token issuance. A federal judge in New York had previously ruled that the issuance of GRAM tokens by the TON network violated US securities laws, forcing Telegram to postpone the launch date of its blockchain project TON. The Telegram team released a white paper on the next-generation blockchain platform TON in early 2018, and raised US $ 1.7 billion through private equity. The Telegram team previously stated that if TON cannot be officially released, it will refund 72% of the investment money to investors. Pavel Durov’s article does not mention refunds.

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