Tagged: grams

July 21, 2020 @ 3:07 pm By JD Alois  |  

What makes something a “distributed ledger or blockchain technology-based” security? SEC Commissioner Hester Peirce has published a speech delivered to the Blockchain Association of Singapore. Unable to attend in person due to COVID-19, Commissioner Peirce visited with the Association virtually, addressing the hot topic of… Read More

June 26, 2020 @ 7:57 pm By JD Alois  |  

Telegram, the fast-growing social network that attempted to raise funds via a digital asset offering, has decided to settle an enforcement action initiated by the Securities and Exchange Commission (SEC). According to a release, the SEC has obtained court approval of a settlement with the… Read More

May 15, 2020 @ 12:00 pm By JD Alois  |  

Earlier this week, it was reported that Telegram has decided to abandon its initiative to launch a blockchain platform called TON (Telegram Open Network) and a cryptocurrency named Gram. The decision was the direct result of an ongoing enforcement action launched by the US Securities… Read More

March 25, 2020 @ 12:40 pm By JD Alois  |  

Yesterday, in an Opinion and Order from Judge P. Kevin Castel, it was decided that Telegram has failed to establish an exemption from the registration requirement under existing securities law. Telegram is an app that is a highly popular messaging service utilized by more than… Read More

January 20, 2020 @ 10:12 am By Cali Haan  |  

In its latest submission in a case against private messaging app provider Telegram, the SEC claims that, Telegram has been using funds raised to develop the TON blockchain to rather cover operating expenses at the messaging business. Telegram raised $1.7 billion USD from 171 purchasers… Read More

January 16, 2020 @ 10:56 pm By Cali Haan  |  

Liquid, a cryptocurrency trading platform started by Blockstream, announced in a blog post January 10th that it has canceled plans to resell Telegram’s GRAM tokens through the platform. “The Gram Token Sale on Liquid has been canceled,” Liquid writes, “and all funds previously held in escrow by… Read More

January 11, 2020 @ 7:47 am By Cali Haan  |  

In the SEC’s January 2nd letter requesting compulsion of bank records from private messaging app provider Telegram, the regulator claimed it had documents showing that Telegram, “paid commissions to purchasers who were buying Grams to resell to other investors…” Brokered sales, the SEC wrote, “render… Read More

January 10, 2020 @ 7:42 pm By Cali Haan  |  

A judge presiding over case involving the SEC and private messaging company Telegram has ruled that the SEC can ask deposed executives questions about how they have been disposing of $1.7 billion USD raised in 2018 to fund construction of the Telegram blockchain. The SEC… Read More

January 8, 2020 @ 9:29 pm By Cali Haan  |  

On Monday, Telegram, makers of the popular private messaging app Telegram, issued a public notice to, “clarify certain aspects of the TON Blockchain and Grams,” as the company, “continue(s) to prepare for a successful launch of the project.” TON is intended to function as a… Read More

January 7, 2020 @ 4:03 pm By JD Alois  |  

Telegram, issuer of one of the highest-profile token offerings of all time that raised $1.7 billion, is in the midst of a protracted legal battle with the Securities and Exchange Commission (SEC). Last October, the SEC filed an emergency action and obtained a temporary restraining… Read More

October 24, 2019 @ 4:24 pm By Cali Haan  |  

Telegram’s appeal to investors asking for a six-month extension on the launch of the TON blockchain in the wake of an American SEC emergency action against the firm has been granted, Russian Forbes reports. Paraphrasing two unnamed sources, the outlet claims: “Investors in the Telegram… Read More

October 18, 2019 @ 12:08 pm By JD Alois  |  

Telegram has responded to the Securities and Exchange Commission’s enforcement action revealed last week. On October 11, the SEC filed an emergency action and obtained a temporary restraining order against Telegram. The SEC targeted an alleged unregistered, ongoing digital token offering in the U.S. and… Read More

October 17, 2019 @ 8:32 pm By Cali Haan  |  

Telegram, makers of the popular mobile messaging app Telegram, have sent an email to GRAM token investors asking for a six-month extension on the launch of TON, a blockchain network financed by the company’s $1.7 billion USD 2018 token sale. The request for an extension… Read More