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Telegram Pushes Deadline for TON Launch, Wants to Make Deal with Investors

  • Alex Dovbnya
    📰 News

    Telegram states that investors can get their money back if they do not want to extend the deadline (well, most of it)

Telegram Pushes Deadline for TON Launch, Wants to Make Deal with Investors
Cover image via www.123rf.com

Messaging giant Telegram has sent an email to its second-round investors where it states that the much-anticipated launch of the TON Blockchain will be postponed to Apr. 30, 2020. 

The email, which was obtained by U.Today, also states that investors are supposed to sign a deal until Oct. 23 in order to approve this extension.    

If investors agree to extend the deadline, the Pavel Durov-lead company will be spending $80 mln before Apr. 30. However, if the majority of purchasers decide to jump ship, Telegram will be obliged to return 77 percent of their money. 

"If the relevant number of Stage A purchasers do not approve the extension and your purchase agreement terminates on 31 October 2019, we expect you to receive a Termination Amount under your purchase agreement of approximately 77% of your Purchase Amount."  

Those investors who took part in the first funding round also have to green-light the proposed extension but they will have to do it separately from the second group.    

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Telegram conducted one of the biggest initial coin offerings at the beginning of 2018, raising a staggering $1.7 bln during two funding rounds. Its TON network was supposed to go live on Oct. 31, but the US Securities and Exchange Commission (SEC) slapped it with a lawsuit for conducting an unregistered ICO right on the verge of the big launch. 

In the aforementioned letter, Telegram states that it "disagrees" with the regulator's stance while promising to "vigorously defend" the lawsuit.

As reported by U.Today, the court hearing in the TON case is expected to take place on Oct. 24.    

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Bitcoin's Parabolic Uptrend Remains Intact Despite Price Collapse: Tuur Demeester

  • Alex Dovbnya
    📰 News

    Tuur Demeester wants you to buy the dip as Bitcoin touches the support of its parabolic uptrend for the first time since March

Bitcoin's Parabolic Uptrend Remains Intact Despite Price Collapse: Tuur Demeester
Cover image via u.today

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Tuur Demeester of Adamant Capital has just taken to Twitter to calm down Bitcoin enthusiasts who might have been swayed by incredibly bearish sentiment on crypto Twitter. 

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Bitcoin recently dropped to $6,800, its lowest level since early May. However, Demeester apparently sees this as yet another opportunity to buy the dip. He states that top coin's parabolic uptrend that started at the beginning of 2015 hasn't been violated. However, Bitcoin has tapped support for the first time since March when Bitcoin was trading well below $4,000. 

Shortly after printing a huge red candle on the logarithmic chart, the Bitcoin price spiked by 20 percent on Apr. 2, which started the coin's massive run to $13,700. 

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Crypto Analyst Doesn't Expect Bitcoin Price to Repeat Past Halvenings

Crypto Analyst Doesn't Expect Bitcoin Price to Repeat Past Halvenings

As of now, BTC is down by nearly 50 percent from its yearly high, but this might not be the end of the nightmare for Bitcoin bulls. According to trading exert Josh Rager, the crypto king could plunge below the $7,000 level again after a fakeout to the $7,500 range. 

Gold bug Peter Schiff recently predicted that BTC could collapse to $10,000 level after competing the head-and-shoulders pattern.  

At the time of writing, BTC is sitting $7,313, CoinStats data shows. 

In this Telegram channel you’ll find fresh news, interviews, infographics, forecasts & other helpful stuff. Join U.Today's channel.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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