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11:28 AM
When and why do investors begin to exit TON?

Some Telegram Open Network investors are already ready to leave the project and return their investment. At least ten ICO participants are ready to leave the project, according to Yakov Barinskiy, head of the Hash CIB crypto-investment bank.

Yakov Barinskiy, Head of Hash CIB Crypto Investment Bank
Jacob Barinsky. Source: dukascopy.com
In October 2019, Pavel Durov offered investors to repay 77% of their invested assets or to agree to change the project launch date, moving it to April 30, 2020. From October to April, Durov promised to spend 5% of the collected assets on the development of the platform, so if the project is not launched by April 30, the promised return of assets will not be 77%, but 72%.

According to Barinsky, TON now has two variants of events. The first involves a deal with the SEC and recognition of Gram as a security. The second is the launch of the project without the participation of US investors. In the first case, an IPO will be required, which will delay the launch for at least a year, and until April 30, the project will not succeed. In the second case, without US investors, the company will have problems in the form of lawsuits from other businessmen.

Some TON investors' exit information was confirmed by Kommersant newspaper sources. It is reported that the Telegram will not be able to challenge the court's decision, so it will have to be refunded. One source noted that the first vote on the postponement was opaque, and now many are ready to take back the invested assets.

Yesterday, Durova tried to challenge a US court ban on the transfer of Gram investors' tokens. Judges from the Southern District of New York in a preliminary ruling agreed with SEC officials that the digital coins of the blockchain project are securities. US authorities note that primary investors have purchased tokens for resale on the secondary market to increase their capital by making a profit.

Previously, information emerged that the list of TON investors included structures of Roman Abramovich, businessman Mikhail Gutseriev and former minister Mikhail Abizov. Telegram developers totaled about $ 1.7 billion. The launch was originally planned for October 30, 2019, but was subsequently postponed to April 30, 2020, as the SEC accused Pavel Durov of illegally distributing the securities.

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