Telegram has reversed its earlier decision to not carry out a public sale of its native token Gram by announcing a listing on the Liquid cryptocurrency exchange.
U-Turn for Telegram?
In a press release issued on Tuesday (June 11, 2019), the messaging platform declared that it would be going forward with a public initial coin offering (ICO) for its Gram token. The private phase of the sale garnered significant attention back in 2018, raising $1.7 billion.
According to the statement, the first phase of the ICO involves a limited listing for early bird investors on July 10. The main token sale event takes place in October 2019 but will not be available to investors in countries like the U.S., Canada, South Korea, and Japan to mention a few.
The move is somewhat of a surprise given Telegram’s position on a public ICO back in 2018. As reported Bitcoinist at the time, the company was wary of the increasing spotlight on ICOs by the U.S. Securities and Exchange Commission. This is likely why the country is one of the geo-blocked…