Bitcoin Forum

I have joined in a telegram group called GRAM ASIA where they kept sharing all the updates about SEC and Telegram. On 14th January they announced all funds will be refunded! Is that mean they are going to shut down? If yes, then this will be the saddest news of the year!

Some information circulates that if a refund is made by liquid which is indeed one of the exchangers who have full rights to the sale of telegram tokens to investors, and this is due to the cancellation of the TON blockchain mainline launch on time and if indeed the launch will occur in the future, of course everything will return to normal in my opinion and with the cancellation of the telegram token  will certainly be many people who feel disappointed and according to the problem between the telegram coin and facebook coin is the same problem as a regulation problem.

If telegram token happen to be blocked by sec, it will only be an indication of what will likely be the story of libra. There is a lot to these coin offering that is not being made available to the general public.

I think they've been a hot project for the eyes of the government. Maybe they can't provide the necessary details that were asked to them by a certain government agency then they can't provide it.

So, instead of going on, they'll just have to refund the money of the investors. I think this is a good action on their part because very few projects are doing this if something troubles with their project.

Is that an official group or not? If that's not an official group or it has managed by 3rd party and i doubt if that will happen. I just know if telegram is still in the battle with the government and in this case the law suit that has already made by SEC is not yet finished. I see some platforms have already refunded their customer caused by this case and that's why they are also following the same step that already taken by the majority of exchange sites.
But the telegram blockchain is not yet even alive. That's still in the development stage.

well that's why ,not disclosing the details of the actual data seeing in terms of security may indeed not be disclosed because of privacy as well ,the insistence on demands be a polemic for him too even though the judge refused the SEC motion for a telegram might be very big

I open up a thread here, SEC vs Telegram Group Inc (https://bitcointalk.org/index.php?topic=5218891.0). So maybe they know that it's going to be a long battle for them against SEC. It's good that they have refunded it, otherwise it could be a burden for them in the future. Good call to show good faith to crypto investors.

Actually, it will be better if you shared the link to the announcement here. So, we can analyze easily what they have stated related to refund.
To be honest, I didn't follow the current update of this project. But I am not sure if GRAM will be shut down suddenly. They may refund the investor's capital in order to make them safer. There are already many projects done the same way. Do you see the reasons why they provide refunds once they announced it?

Very sorry with this information even though grams are very attractive to investors. Same is the case with libra that does not pass licensing.
there are likely to be many cases like this in the future. >:(

This is one of the biggest ICO ever and they have made a round 2 for it just last year. The first ICO they've made which gathered billions of dollars didn't even have any updates for their investors and I didn't invest on it that's why I don't know what exactly has happened.

But this time, still I didn't but there's more exposure and information that's coming out from this ICO and the intervention of the government is becoming serious. They are not going easy on Telegram's second ICO.

The reasons why the funds will be refunded to those that participated in Telegram Asia pre-sale  will get their money back is because there was a clause in the sale of the tokens on Liquid exchange that if the platform was not up and running before Nov, 2019 that the fund would be refunded to the ICO participants, this is the reason. The platform would be release to the public to use or I even envisage I situation where some one fork if and make it available for people to use. SEC case is what is causing the delay nothing else

Very unfortunate. Even though the hype already formed is very good for TON. You can imagine if the tokens are successful and have entered the market, the investors will definitely benefit a lot. Indeed, the SEC is the culprit.
I think in the future maybe Telegram will issue a new method in the crypto, either rebranding or something else.

As far as i know its only for the investors who wants a refund for their investment but also liquid withdrawn its support because of the Issue of its launch while it was been rescheduled to launch this april. I don't know what will going to happen but i think it will still going to launch anytime soon. it only have an issue in raising funds like tezos but they succeed to launch and defend.

if this will really happen there can be two scenarios: 1) when the project will close, people will no longer believe that the technological development of cryptocurrencies is impossible and will start selling their assets and we will see another bear market. 2) when the project will closes and money returns to investors, they will invest money only in bitcoin and we will see a bull market, but not for the altcoins

No it will not be shoot down. But will not have anything to do with Telegram. It will have no use case beside for Telegram crowdfunding money. Like many ICOs in past.

I do not quite understand how SEC works, i mean if they any problem they should stop the project before raising funds they seem to always jump in after everything has been completed and they just enter to ruin the party. I think SEC should come up with clear funding guidelines and procedures so that every serious project can follow them and get a noc from them so that investors and project team are not disturbed later.

wow i wondered what happened to that coin
never invested in it - had a bad feeling
i really hope that all this corporated projects will fail , and instead we will build infrastructure for existing coins
ZEC could be a very good choice for Telegram app

LIQUID exchange already refunded investors, and it's a clear indication that others will follow suit if not already done. I really wanted to see the outcome of GRAM blockchain, the hype was so huge hence I was expecting something massive from the social platform giant. Well, we can't conclude yet, let's see how things turn out to be.

Can't really blame SEC tho, they are doing this to ensure the safety of many investors and to stop an ICO like this that got overfunded just because it's telegram. Maybe in the future they should prepare better and abide the regulation so that they won't have a problem. The fact that the money got refunded is a good thing for most of investors rather than worrying that their token could be cracked down by the SEC anytime.

Are you serious? Honestly that is good project as long as I know in 2019. They have many fan and also their community is large such as gram asia. If I'm not mistaken gram asia is a community who try to sell gram token, right? They are admit that they a community who had a lot of token gram on their wallet.

But, there is an oddity when the owner itself never be involved to sell the gram token. Pavel durov just act normal as if he never intended to launch the Gram Token project. But it is just my opinion I don't know much about this project, only see if there is an article when I surving the internet.

YES man, it's always about those financial institutions who don't wanna let the blockchain technology mass adopted because it will shut down their robberies of people' pockets since decades.
TON faces the same shit a Libra, they will not let such thing be mas adopted, as simple as that, it jeopardizes their banks.

The SEC indeed issued a ban at the beginning of this year, the telegram will temporarily disable this option and process a refund.

very unfortunate actually, because they have made several sales phases. In contrast to libra, which is still limited to announcements that are still being debated. I think if their company is in China, it might be responded to very positively and it is supported by some adjustments.

right now I did not see any official announcement that the project will be closed. around this project, there were a lot of scammers through 2 years and maybe such news is also not true. but if the project is really closed, then we will see another bear market, because many people believed in this project. people thought it would help mass adoption

I still haven't heard from them. So it may be unconfirmed news, but if they return all the money to the investors and abandon the project then this will surely be a pity for me. I had high hopes for this project and wish it could help the whole market go up. I hope this news is not true, the Telegram project is huge and it will surely work if it works.

I don't think it's sad in any way, this just makes people dig deeper on why they can't block truly decentalized permissionless cryptocurrencies that have no CEO. This in fact should bring more value to btc and make people aware that these existing centralized currencies are in more danger to lose their value.

People should always understand that there are alot of speculations in the crypto ecosystem and not all these speculations have valid stories to sell to the general public of the crypto ecosystem. In as much that SEC do not like the way cryptocurrency and Blockchain technology operates, does not necessarily mean that all speculations about SEC on  cryptocurrency is true...

If this is true, it will surely be sad news this year. Also Libra may also be delayed and not released this year. I had a lot of hope for the market this year because of the positive news that it was about to happen, but unfortunately because things were not as I expected.

although the ICO of Telegram was rejected by the SEC it did not make the Telegram company close the project !, this was a regulatory issue, and they returned the funds, there was no negative thing, if Telegram was outside the SEC's control then the ICO would run

They have provided a date of October 31, they have sent an email to every investor promising to launch the TON network by that date.
What governments around the world fears is the anonymous nature of communication telegram has preached and their flexibility makes them nearly impossible to block and with their own blockchain, they'd be non stoppable in internet.