Telegram abandons TON

[Beerwizzard]

Link: https://cointelegraph.com/news/breaking-telegram-abandons-telegram-open-network-and-gram-tokens


Well, i can't say that was unexpected. But looking backwards how do you feel, was that a smart move to do the business like Pavel Durov did?
As we remember, back in 2017 a huge part of ICOs were unavailable for US residents just because devs could be fucked by SEC. Then they started all their TON things in US and obviously got fucked.

Ofcourse TON network would be launched and somehow maintained, but imho generaly this is RIP.
TON used to be a currency, supported by an  application that in some parts of the world could overtake facebook facebook. It could seriously push crypto adoption but now in the best case it would only be popular inside cryptocommunity.


RIP

[Stedsm]

This is where centralized authorities show their real power over decentralization. The SEC just got a chance and they never let the TON network win the battle because they knew that it can't and won't work out as a security and allowing it may be unfair to those other projects which got rejected by SEC in the past for almost same reasons. I'm surprised actually how these money-hungry people (SEC) even allowed it to develop in the US for such a long time. I'd have definitely bought and traded this considering that it's a token from one of my favorite decentralized medium.

[Beerwizzard]

I'm surprised actually how these money-hungry people (SEC) even allowed it to develop in the US for such a long time.

Telegram main office is in Arab Emirates, guess everything happened there.

[LbtalkL]

I guess it was for the better Telegram does not really need a token or coin because it is famous already and the most used messaging app mostly by crypto projects. Seeing facebook libra issues facing with the regulation I guess it is good to abandon it now. Because US are very strict right now and not allowing US citizen to participant in this kind of practices, But maybe in the future if crypto will be accepted legally in the US and most countries TON can continue what they have started.

[Stedsm]

I'm surprised actually how these money-hungry people (SEC) even allowed it to develop in the US for such a long time.

Telegram main office is in Arab Emirates, guess everything happened there.

I believe it's SEC that stopped them, if what I've read is correct. It doesn't matter who, but why. When TON didn't comply with either of their rules already, why did they even let the name be spread like wildfire so to let the investors bury their investment into graveyard? How will the CEO be able to return the money of the investors (if there's actually any huge investment stuck in vain)?

[Youghoor]

It's so sad that development of the  TON blockchian has dome to this end. I believe the team did their best to bring something great in future but they could just not pass the regulatros of the country go get it legalized. I heard all the private investors are going to be refunded.

[Utoy101]

Well,  it's a sad day not for only the team telegram but for the entire cryptocurrency space. The concept behind TON blockchain was to promote true decentralization but US government couldn't take their eyes off the amount of money raised by the project. O hope things will get better one day that the world won't have to depend on any country to provide innovative solutions

[kceekcee]

Its a sad occurence for the telegram team, i feel their hurt, because they have spent alot of funds in building the ideas that back up the ton project.
Perhaps it is time to move, and weigh in the influence sec has over crypto currency in little details ? atleast to know if the negativity outweighs the positivity or vice versa

[LincolnMikkel]

Sadly looks like Durov is tired of fighting SEC. Instead of focusing on eliminating brrr printer they've eliminated worth project. Well done, SEC.

[Teraboy]

Sadly looks like Durov is tired of fighting SEC. Instead of focusing on eliminating brrr printer they've eliminated worth project. Well done, SEC.

He's not yet tired but he just feel worried to do what thing that can destroy the reputation of his company.

I have been seeing a bunch of platforms have been doing private crowdsale to the TON and what about that? Scam? we will see that soon.

[Crypto_lion]

It's really sad to see this happening more so for the investors like us who hoped and put their hard earned money into it and now hardly stand a chance to gain even peanuts from it.

[jossiel]

1st Telegram ICO was a success but anything nothing heard from them.

2nd Telegram ICO another success but the same thing again.

The first ICO they've shown poor communication and update to their investors and that should be enough not to be dealt with again with their 2nd ICO yet still, many investors did.

[kayvie]

Sadly looks like Durov is tired of fighting SEC. Instead of focusing on eliminating brrr printer they've eliminated worth project. Well done, SEC.

Tired? No, Durov against the authorities, it's a tough battle. He just doesn't have the chance to win what they are fighting right now. But I don't think that they will stop having developments right now, they will surely have more projects in the future.

[southerngentuk]

Sadly looks like Durov is tired of fighting SEC. Instead of focusing on eliminating brrr printer they've eliminated worth project. Well done, SEC.

A lot of good projects have been stopped because they can't fight the SEC, in the future there will definitely be many discarded projects like TON. They are trying to destroy this market

[tycsols]

Huge news as Telegram's blockchain project was assumed to be one of the biggest project and we saw huge interest where they were able to raise 1.7 billion dollars only in the private sale, at the same time it is disappointing to know the US and their agencies are qorkinv against innovation, they would have easily registered and let them continue because everyone knew telegram and their project was legit, i hope they will come up with the project again later.

[$crypto$]

In fact, this will all be successful if the regulation is legalized, but indeed it has become a state regulation where their project will not be accepted, even in court, it cannot be granted because there are several violations.

A very successful ICO where TON is able to pay attention to many people because it wants to invest in it because this is a blockchain with new innovations.

RIP. This can not be done anything because this has become a state war there.

[CryptoCrawler_2017]

It's the SEC bullshit again & again & again, they simply won't let it happen that crypto should be mass adopted.
Do you thin those big financial banks, institution will let something to make transactions (or whatever) that is hundreds of time cheaper than their bullshit system? Of course not.
TRON faces the same problems as Facebook Libra, they simply won't let them grow, it jeopardize their financial system.

[Mia44]

That also means that Telegram has succumbed to the protracted legal battle with the SEC, the protracted legal battle with the SEC may have made the Telegram leaders tired.

[BlacksmithCorporation]

TON is banned by the SEC around the world, why is the US SEC so powerful? Even if a country allows TON to be deployed in their country, won't TON still be implemented?

[Bitstar_coin]

In fact, this will all be successful if the regulation is legalized, but indeed it has become a state regulation where their project will not be accepted, even in court, it cannot be granted because there are several violations.

A very successful ICO where TON is able to pay attention to many people because it wants to invest in it because this is a blockchain with new innovations.

RIP. This can not be done anything because this has become a state war there.

The major problem was violating the laws and not declaring and registering the token  as security from the beginning, they were not very transparent from the start I guess this is why the problem escalate with the sec, they knew what they should have done but they didn't, maybe if they had followed due process this would have been avoided.
This must be very disappointing to all investors, this is a lesson to other project who will not try to be transparent about the provision of their tokens.