Telegram, the secure messaging company founded and run by Pavel Durov completed in 2019 one of the biggest Initial Coin Offerings or ICO's in history.
Telegram's ICO is probably the most liquid ICO, as well.
Telegram's ICO raised 1 700 000 000 USD, which is a staggering sum of money.
Wall Street was in a way circumvented with Telegram's ICO.
However, Telegram's ICO was effectively cancelled by the US Securities and Exchange Commission which fined Telegram with 18,5 mln. USD and ordered Telegram to return 1.2 billion USD to investors.
The SEC in effect barring Telegram ICO, a flagship for ICOs and cryptocurrencies issuance put a huge break in the Initial Coin Offerings financing machine.
Technology startups seem to be reconsidering many times before doing an ICO, because they can be also sued by the SEC.
The above development is beneficial for Wall Street, but not for tech startups and for funding in general, because young companies, technology especially are stopped form having a new and exciting avenue for funding, that sits even before angel investing as a risk/reward ratio.
Wolfteam is of the opinion that the Securities and Exchange Commission and Silicon Valley will find a middle ground for ICO's in the future.
www.wolfteamedge.com
Disclaimer: The above blog post is not a recommendation or solicitation to buy or sell securities or derivatives or cryptocurrencies.
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