Telegram ICO Announced Possible Refunds To Investors… Maybe

Telegram ICO is sending investors contradicting signs. The popular messaging app company, having raised more than 850 million dollars in a private sale (the first phase of the ICO), had promised investors that in case the ICO was not going to launch, their funds would we returned. But now, it seems that they won’t.

The first documents, sent to potential investors in phase one, said that the funds were to be reimbursed in case the ICO failed. But other more recent documents state that: “There can be no assurance that the Issuer or Telegram will have sufficient funds to make payments of any Termination Amount (as defined in the Purchase Agreements) as and when required under the terms of the Purchase Agreements. Neither Telegram nor the Issuer has any fiduciary or other obligation to use the funds generated by the token sale for the benefit of the purchasers…”

The Telegram ICO has faced harsh criticism for the technical contents of its whitepaper, and now for the lack of clarity in the financial documents that they are sending possible investors.

Latest News

Barstool’s Dave Portnoy is finally diving into Bitcoin after branding it a “scam”

If you’ve read any financial news outlet over the past few months, you’ve likely heard the story of Dave...

Rockstar Reveals Plan to Make You Buy GTA V on PS5 & Xbox Series X

Rockstar Games reveals how it plans to get PS5 and Xbox Series X players to play GTA V, but fans aren't going to like...

This Newly Formed Structure Could Cause Bitcoin to See Major Losses

Bitcoin and the aggregated cryptocurrency market are currently in a precarious position following the series of strong rejections seen yesterday evening The selling pressure incurred...

Missouri Man Pleads Guilty to Trying to Buy Chemical Weapons With Bitcoin

The chemicals, though never delivered, would have been potent enough to kill 300 people, prosecutors say.