The Wall Street Journal (WSJ) reported today, May 2, that Telegram’s plan to launch a basic Coin contribution (ICO) has been scrapped. The reality that the messaging appraised enough money already through their two private ICO rounds was cited as the reason for the agreement.
An unnamed expert told the WSJ that Telegram has decided not to hold the planned ICO for the public after leading in a total of $1.7 billion by mid-March, with 81 accredited financier taking part in the first ICO round and 84 in the second.
The money raised from the two ICO rounds already held – which were open to only those with a net worth of $1 million 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.
More Details: https://coinpredictioncap.com/wsj-telegram-cancels-plans-to-launch-public-ico/