Messaging Platform Telegram Raised $850 million
As per the latest filing by Telegram CEO Pavel Durov with SEC, Telegram's billion dollar ICO (Initial Coin Offering) has raised its initial $850 million, reaching its first milestone.
According to the report, that was submitted on Tuesday, the money is raised for the "development" of TON (Telegram Open Network) Blockchain, "the development and maintenance of Telegram Messenger and the other purposes described in the offering materials."
"This $850,000,000 offering was made under a claim of federal exemption under Rule 506(c) and/or Regulation S under the Securities Act of 1933. The issuers may pursue one or more subsequent offerings, in which case a new or amended Form D will be filed," the report clarifies.
The initial sum raised is most likely the pre-sale stage of the ICO, as...