May 13 - 13:05
Telegram puts the brakes on $1.7bn blockchain and crypto project
Cloud-based messaging platform Telegram has given up on plans to develop the Telegram Open Network and associated Gram cryptocurrency. The announcement comes after opposition the U.S. Securities and Exchange Commission. It is a huge blow for Telegram, which raised $1.7 billion in funding to get the project off the ground in 2018 through an Initial Coin Offering.
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