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Telegram announces end of cryptocurrency project and blames United States


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The creator of Telegram, Pavel Durov, announced on Tuesday (12) that the company's blockchain project, which also created a cryptocurrency, has been canceled. The Russian businessman blamed the United States.

He did not comment on what would be done with the money collected from the coin's pre-sale in 2018, which raised $ 1.7 billion, according to The Wall Street Journal.

"Unfortunately, the American justice system prevented TON (the company's blockchain) from happening," wrote Pavel.

According to the businessman, the American court also prevented the Gram cryptocurrency from being distributed worldwide, under the justification that a citizen of the country could find a way to access the TON platform after the launch.

Pavel said that after more than 2 years of development, the technology, which followed the principles of decentralization and that had the potential to revolutionize the way people save and transfer funds, was far superior to bitcoin and ethereum in speed and scalability. .

Finally, he said that people should now beware of scams that are using the name of the two products. "Don't trust them with your money and data," he wrote.

Telegram and USA

In January, the US Securities and Exchange Commission (SEC) placed Telegram's TON project under suspicion by asking the country's court to provide the bank with its bank details.

According to the agency, the reason is that the company refuses to say how it spent the money that 200 investors invested in the company between January and March 2018.

"The defendants' refusal to fully disclose and answer questions about the $ 1.7 billion (about R $ 7 billion) disposition they raised from investors is deeply worrying," the SEC said in the document.

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