At Least 10 TON Investors Are Ready to Leave the Project

By Marko Vidrih on The Capital

At least 10 investors of the Telegram Open Network (TON) blockchain project are ready to withdraw their money, in an interview with Russian media TASS said the head of the Hash CIB crypto-investment bank Yakov Barinsky.

“What I see now among various investors is that many, at least 10 investors with whom I spoke, are inclined to take away 72% of the invested funds,” said Barinsky.

According to him, in October last year, Pavel Durov proposed that investors take 77% of the invested funds or agree to extend the project launch deadline until April 30, 2020. If the project is not launched by April 30, then the expected return will be 72% of the investment, since from October to April Durov promised to spend another 5% of the funds collected for the ICO.

Barinsky admits that Telegram can recognize Gram as a security and conduct an IPO, however, in this case, the launch of the project will again be postponed. Another possible option would be to launch a project without American investors.

“The basic option is to return 72 cents per dollar to all investors,” the expert added, adding that at this stage the appeal no longer makes any practical sense.

Recall that the company Telegram intends to challenge the court decision to ban the placement of digital currency Gram — a notification was sent to the court of appeal.

Author: Marko Vidrih

Featured image credit: Pixabay

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