According to public documents; messaging app Telegram successfully raises another $850 million in Telegram ICO private sale According to a Form D disclosure with the Commission (SEC), the funds were: “purchase agreements with cryptocurrencies.” In particular, the filing states that the $850,000,000 offer was submitted in addition to the previous offer, stating that the company has now exceeded its $1.2 billion target and has raised a total of $1.7 billion during the first two phases of the sale. .
The sale is not over yet!
The Simple Deal token sale for Future Tokens (SAFT) is probably not over yet. Filing: “Issuers may pursue one or more subsequent bids.” As previously reported, Telegram may seek to increase the amount it raises to an estimated $2.55 billion, although it’s unclear when the company will launch the general phase of the sale. allowed individuals or institutions that have invested $100 to participate.
Funds will be used for Telegram Open Network (TON) development; This is an ambitious Blockchain to deploy the versatile features of digital communication, from file sharing to scanning transactions.
According to the SEC’s statement:
Issuers, development of TON Blockchain , the development and maintenance of Telegram Messenger intends to use the earnings for other purposes described in the offer materials.
CoinDesk