Crypto News Flash #154 : Telegram Cancels The Public ICO Due To Already Received $1.7 Billion Investment !!
Well, Cryptocurrencies have started to get attention again after a short-setback in last few months. People's interest is coming back into crypto and money has been started pouring back again in crypto market. Everyone want's to make money in crypto market but because of high volatility and manipulation, not everybody ends up making money in crypto trading.
Now, another option for crypto investors to make money is from ICO's. They're the perfect way of making investment multiples. But selecting a potential winner ICO is a heck of a job. There are hundreds of ICO's running throughout each day and selecting the 'winner' ICO among all those is definitely a difficult, if not impossible.
But there are some ICO's which already gained much hype and investing in these ICO's is like taking a sure shot at making multiples. One of those ICO's is Telegram.
Telegram announced last year that they'll come up with their own ICO and since then people are finding ways to invest in their ICO. Two private sales have already been concluded by the Telegram team and already $1.7 Billion has been raised by the project.
Although, Telegram announced that they'll conduct a public ICO crowdsale but now the Wall Street Journal reported that the Telegram's plan of conducting a public sale has been cancelled. The reason being a lot of money have already been received by the team via two private sales.
As per this source:
The money raised from the two ICO rounds already held - which were open to only those with a net worth of $1 mln or an income of $200,000 - will be used to support the development of the Telegram messenger app, as well as the launch of the blockchain platform Telegram Open Network.
With the ginormous investment held by Telegram team, really not much money is needed for the project and hence the ICO cancellation might be a right decision by the project.
This will definitely affect the potential investors who were looking to forward to invest in Telegram's ICO with a hope to multiply their investment.
Thanks for reading ...!!
Great article @cryptonet. I was eager to invest in this ICO since it was first talked about on their Facebook and Twitter accounts. But I think it's a better decision taken overall by the team. They already have a huge investment which can take the platform to a great level before getting more funding. I use telegram daily for my freelancing work and crypto talks with some of my buddies and the app is amazing. It's a new culture free from stupid groups that destroyed Whatsapp or any other IM app. :-)
Hope to follow you more on this platform to get a quick update on latest happenings in cryptospace.
Your information that Telegram Cancels The Public ICO Due To Already Received $1.7 Billion Investment ,,,I really happy People's interest is coming back into crypto and money has been started pouring back again in crypto market,,thanks for sharing with us
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