Telegram vs SEC and Questions Surrounding the ICO Money
Uh-oh. Looks like the U.S. Securities and Exchange Commission (SEC) has got Telegram in their sights and they’re starting to ask questions about how Telegram spent their ICO money. Telegram, the Dubai-based messaging app company, raised a record-setting $1.7 billion from investors, the largest ICO after adding $850 million in February. The plan was to sell GRAM virtual coins with proceeds going to create a decentralized network for the app. To date, Telegram hasn’t shared details on what happened to the funds, which caught the SEC’s attention. In fact, the Securities and Exchange Commission filed a court order seeking to…