CCN : FEBRUARY 19, 2018 18:21 view source
ICO (Initial coin offerings) is the new way to raise money from the market. New startup related with cryptocurrency has started raising money from ICO . As it is the new acceptable and easy mode to do so. Raising fund through venture capitalist , angle investor are getting old. In this highly decentralized currency era every startup and company is dreaming of to launch its ICO which is synonyms to IPO (initial public offerings) .Telegram ICO in 2018 is the new hot topic on the internet.
Step aside, Filecoin, because the Telegram ICO has quietly shattered the blockchain-based fundraising record.
According to a document filed with the US Securities and Exchange Commission (SEC) last week, the Telegram ICO has raised $850 million since Jan. 29, when the token sale officially began.
The filing reports that only 81 investors contributed to the funding round, pegging the average individual investment at just below $10.5 million.
$850 Million: Telegram ICO raises fund
Telegram reported its ICO under Rule 506(c) of Securities Act Regulation D, which stipulates that unregistered securities issuers may raise an unlimited amount of money and generally advertise the offering as long as they restrict contributions to accredited investors, file a report with the SEC, and prevent investors from selling their stakes for a predefined vesting period of either six months or one year.
As TechCrunch noted, this likely marks the conclusion of Telegram’s ICO presale — not the main event itself — and the company is free to hold subsequent funding rounds as long as it records them with the SEC.
Telegram has not been publicly forthcoming with its goals for the token sale, but the firm had reportedly targeted $600 million during the presale — a figure it bested by 42 percent — and intends to raise more than $1.2 billion by the ICO’s conclusion.
Filecoin, the previous leader in ICO fundraising, netted $257 million during a token sale that ended last September.
A 132-page document — purportedly a leaked copy of the Telegram Open Network (TON) whitepaper — states that the firm intends to launch a “third generation blockchain” that will achieve scalability by pairing a master chain with 2-to-the-power-of-92 sidechains.
Cryptocurrency developers and investors have raised serious questions about the project, but, clearly, these reservations have not hindered the project from attracting investors with deep pockets.
Notably, the document reporting the results of Telegram’s ICO funding round was filed with the SEC on the same date that cybersecurity firm Kaspersky Lab revealed a now-patched vulnerability in Telegram’s desktop app that Russian hackers exploited to trick users into downloading malicious files that contained cryptocurrency mining malware.
How much fund Telegram will raise from ICO
The most promising and highly famous telegram chat app is making in the list . Telegram is very much famous on crypto exchanges and cryptocurrency lovers , as it provides a encrypted chat facility to its users.
This messaging app is planning to raise $1.2 billion according to three people familiar with the offering , which would represent largest crpyto token sale to date.Telegram chat app ICO surely going to blow the trumpet this year.
What is TON
The Proposed Telegram open network (TON) will be used to faciliatte the payment system and the micro level transaction among its 200 million users .
Sources close to this ICO have revelaed that the TON will be of new third generation blockchain with superior quality than Bitcoin and Ethreum . There’s a very vital point to note that , unlike other new startup telegram is a well known established brand . This famous chat app is very much famous for its privacy chat . so the public demand for this ICO is too high.