TELEGRAM FAILS TO LAUNCH GRAM TOKEN FOR THE SECOND TIME! OFFERS TWO OPTIONS TO INVESTORS
Just in case you invested in the GRAM token sale last year, check out the options offered to investors by Telegram after a second failed launch
Early 2019, I announced to my community about giant messaging platform, Telegram’s plans to launch the sale of its GRAM token on Japanese regulated cryptocurrency exchange, Liquid.
Telegram has failed to launch its GRAM token twice in the past after the ICO and is now expected to launch next April, a delay which has triggered a refund clause in Telegram’s purchase agreements.
Investors now have the opportunity to claim a refund of 72% on their investments or take a second option of “loaning” their stake to the platform for another 12 months in exchange for a 110% return (in GRAM token or any other cryptocurrency) on April 30, 2021.
Telegram’s official letter on April 30 states:
“As a token of gratitude for your trust in TON, we are also offering you an alternative option to receive 110% of your original investment by April 30, 2021, which is 53% higher than the Termination Amount.”
“Detailed documents describing this option, including a loan agreement, will be provided shortly to those who express interest,” the document adds.
However, according to a letter released on May 4, US investors are not allowed to take the loan option for another 12 months, which means they are forced to exit the project by accepting a 72% refund – no thanks to the U.S long-standing regulatory issues.
The new letter also reportedly excluded the option for a refund in crypto, leaving investors with only cash option or anything outside digital currencies. This is due to poor reception from the relevant authorities, claimed Telegram.
Investors have until the weekend to forward whatever refund plan they have chosen.
Do you think Telegram’s treatment of investors is fair as regarding the refund policy and the launch of GRAM token?
Share your thoughts in the comment section