Bitcoin Forum

Federal judge Kevin Castel ordered encrypted messaging app Telegram to disclose its bank records by February 26.




https://www.financemagnates.com/cryptocurrency/icos/ny-court-orders-telegram-to-reveal-its-ico-bank-records/

They've made 2 rounds for their ICO and until now there's few information that we're hearing from them.
AFAIK, it's one of the biggest ICO that gathered a lot of money from their investors. I think it's now time for telegram to hear their side regarding the ICO.
How many here did invested to this project?

Is it a correct news? i have seen cointelegraph has already published the same article but it says that the court already denied the SEC request to reveal the ICO bank record
https://cointelegraph.com/news/court-denies-sec-request-to-make-telegram-reveal-ico-bank-records

There is something wrong with both of medias.  :-\

But telegram has already said if it will reveal its ICO bank record

https://cointelegraph.com/news/telegram-will-release-bank-records-to-sec-in-ongoing-gram-ico-case

It looks like telegram is very strong enough to battle with SEC.

And there are also claims that they have been selling tokens out of the ICOs. Durov brothers have one after another successful feat in tech industry and they surely are working for something much more advanced than an IM. They were hailed by the west for refusing to provide user info to Russian government and now their instance in privacy are making them a target for governments around the world.

if so whether ICO will continue to run for the future because selling does not mean maintaining ICO in my opinion

So, this became an attention seeker for the governments because of that.
I wish that investors should get what they deserve because for two rounds, there's not that much update and everyone looks like walking in the dark with this project.
Although, they are a known messaging app and millions are using them but with the management of ICO, they need to improve.

Yes, indeed there is not much information that we can get from the telegram related to their ico. But what is clear is that they did raise a lot of money which lured regulators to play a role and forbade it.
Hopefully, this becomes clear because I would like to see how the movement of Gram will be on the market.

At least now they are willing to reveal records. I have a high appraisal for telegram company and I dont want them to have the same fate as facebook Libra which are criticise so much for launching a blockchain product. Anyway, Telegram has proven its usefulness to the mass community. There will be no evidence of negative publicity that SEC might get from their token sale record. Come on, there are public sales conducted too. I'm sure this is a tactic to delay its launch.

telegram is one of the biggest social media I guess they will not be afraid even though they have to deal with the SEC though.
Despite the many conditions put forward, they also did not hesitate to show the results of their IO fundraising.
the commission still insisted on identifying the Telegram offer as a security offer.

so does it explain here that the ICO program is still running in a telegram because what I know is that the ICO program is almost extinct this year please clarify my understanding

Well Telegram should comply with this, raising one of the largest ICO in the history will definitely hot in eyes of regulators, unless there are no gram token in the US then they could have escaped the scrutiny. I think they will overcome the situation, big company certainly have answers for this.

The NY thinks its still have a law issues for Telegram's company to sell their ICO tokens thay is why they wanna see how much Telegram is spending about the ICO project.

However, for the update. Telegram founder refused to give bank statements on how did they actually spent $1.7 b to the projecr according to this source. (https://www.coinspeaker.com/telegram-refuse-report-sec-ico-money/)