American TON investors will be reportedly only eligible for an immediate 72% repayment instead of a 110% refund option in April 2021.
Soon after missing the April 30 deadline to launch the Telegram Open Network (TON), Telegram sent another letter to its investors. In the new letter, Telegram reportedly said that American TON investors will not be able stay in the TON project for another 12 months.
Telegram had to retract the 110% option due to regulatory uncertainty in the U.S.
The news comes after Telegram offered to refund its investors on April 30. As reported, the firm proposed two options — an immediate 72% refund, or 110% in 12 months. The firm offered the second option as a “a token of gratitude” of trust in TON, promising to provide interested investors with a loan agreement shortly.
According to an investor letter seen by RBC, Telegram had to retract the second option for its American investors due to “uncertain stance by regulatory authorities in the United States.”
In the wake of the recent pandemic, here’s how many different blockchain projects are stepping up to donate resources in the hopes of finding a vaccine.
As the world is still reeling from the effects of the coronavirus pandemic, people everywhere are doing what they can to support the effort to find vaccines and treatments. Not to be left out, blockchain projects everywhere have rallied together to supply computing power and money in a concerted effort to accelerate research.