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- Telegram again fails to launch its Telegram Open Network (TON) on the mentioned April 30 deadline.
- To this, a well-known bitcoin investor Michael Novogratz tweeted the same day that Telegram should consider using Bitcoin rather than launching a new blockchain.
- TON’s initial launch scheduled in October 2019 failed as it entered into a major conflict with the United States’ Securities Exchange Commission (SEC). SEC claimed GRAM tokens were securities.
- Regardless of its unresolved conflicts with SEC, Pavel Durov, Telegram CEO has reportedly offered investors ways for their refund.
Telegram again fails to launch its Telegram Open Network (TON) on the mentioned April 30 deadline. The messaging app giant has reportedly delayed the TON launch by an exact year to April 30, 2021. To this, a well-known bitcoin investor Michael Novogratz tweeted the same day that Telegram should consider using Bitcoin rather than launching a new blockchain. Michael Novogratz besides being one of the major BTC bulls is the CEO of the crypto investment firm, Galaxy Digital.
Mike Novogratz Suggests Using BTC on a TON
Telegram should enable $btc and stable coins on their platform. We don’t need another blockchain. We don’t need another crypto. They have an awesome community of messaging users. Turn them into consumers now. https://t.co/isZRXG9FPN
— Mike Novogratz (@novogratz) April 30, 2020
TON Network should prefer enabling BTC on its platform, according to a tweet by Mike Novogratz. He further adds the community is not in need of a brand new blockchain or a brand new cryptocurrency.
The cloud-based messaging app gained 400 million monthly users as of April 23rd. Mike Novogratz highlighting its massive community stated his view that they can be transformed into stable coin consumers.
Telegram CEO, Pavel Durov, offers investors their refund
Telegram has been working on the TON network and its Gram token since the year 2017. In the following year, TON was successful in raising $1.7 billion in two private initial coin offerings. TON’s initial launch scheduled in October 2019 failed as it entered into a major conflict with the United States’ Securities Exchange Commission (SEC).
Regardless of their unresolved conflicts, Pavel Durov, founder and CEO of Telegram has reportedly offered investors ways for their refund. Investors who had raised money during the Initial Coin Offering will be given an immediate refund within a considerable time.
