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Goodbye Blockchain, Telegram Officially Quits the Crypto Club

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telegram

 “This battle may well be the most important battle of our generation,” he wrote. “We hope that you succeed where we have failed.” – Pavel Durov, CEO of telegram 

The years of drama with the U.S Securities is finally over! After the dispute over its distribution of its own digital currency gram, Telegram is calling quits.

“Telegram’s active involvement with TON is over,” said Pavel Durov

The founder and CEO Pavel Durov, made an official announcement on his channel. “You may see – or may have already seen – sites using my name or the Telegram brand or the ‘TON’ abbreviation to promote their projects. Don’t trust them with your money or data.”

In 2019, the SEC sued Telegram and ordered the company to halt sales of its Gram cryptocurrency  after its failure of registering an early sale of $1.7 billion in tokens before the network’s official launch. Which made the sale an illegal foul. 

Durov spoke out against the ruling in his announcement, arguing that American courts shouldn’t have the power to stop the sale of cryptocurrency beyond US borders over an appeal during the early march, and urged others to take up the decentralization fight with Telegram. 

One should avoid crypto scams.

It seems like Telegram have decided to officially step away from the crypto community, there are currently no plans if they will ever work with the crypto industry in the future for the time being.

Image source: Victor Immanuel Oloo

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