Telegram Has Returned $1.2 Billions To TON Crypto Project’s Investors
After announcing the cessation of work on the creation of the Telegram cryptocurrency, Pavel Durov announced the compensation of losses to investors of the TON project. Why did investors receive only 72% of their initial capital?
$1.2 billion in compensation
The complicated litigation, disagreements of Telegrams with the US Securities and Exchange Commission (SEC) regarding the functioning of TON became a “point of no return” for the project. Since external investments were involved in the development of the project, Pavel Durov forced to take an unprecedented step: he promised to return the investment to the project participants.
The initial investment in the TON project was $1.7 billion. According to the latest data, the Telegram, from May to today, has already paid investors more than $1.2 billion. Pavel Durov commented on the Telegram policy regarding debt repayment to investors:
“Telegram operates within the framework of agreements that concludes with investors. We have already returned more than $1.2 billion to businessmen. the issue of compensation for losses was resolved by issuing a loan or paying by bank card. ”
How is Telegram paid to investors?
Pavel Durov proposed 2 options for the return on investment. If the investor wants to receive funds as soon as possible, Telegram returns 72% of its initial capital. Realizing that Telegram is in a difficult financial situation, Pavel Durov also proposed a 12-month deferral of payment options. Thus, the Telegram company committed to pay in this case 110% of the investment.
The fact that the company began to actively carry out payments evidenced by the statement of one of the participants in the TON project. An investor from America said that Telegram had already paid him $7.2 million (72% of the original amount of $10 million).
“Dark spots” in the history of the TON crypto project
Despite the Telegram’s policy of reimbursing investors, some questions remain open in this story. Firstly, there is no official confirmation from the management of the company on the payment of $1.2 billion.
Secondly, the question remains, why exclusively American investors did not receive the right to demand 110% of their investments after 12 months. According to the decision of the Telegrams, they can only rely on 72% compensation. Also, for many lawyers, it remains a mystery how the company agreed with the SEC to pay investors $1.2 billion worth of $1.7 billion.