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They report that most TON investors have decided to withdraw with the 72% refund

May 17, 2020

On May 12, Telegram officially ended attending his planned blockchain project, the Telegram Open Networkand the corresponding GRAM token. Apparently, he’s ending his long lawsuit with U.S. regulators, Telegram still has to pay the $ 1.7 billion raised by an initial coin offeringor ICO in 2018.

Before the CEO and founder of Telegram leaves the problematic TON project, Pavel Durov, submitted a repayment planand offers TON investors two options:: 72% instant refund or 110% refund in 12 months.

The largest $ 70 million investor is preparing to retire at 72%

According to a report by Forbes Russia on May 16 Most TON investors are said to have decided to get their money back as soon as possible by opting for the 72% option. According to Disruptive Era Fund, one of TON’s largest investors, more than 80% of the fund’s investors are preparing to withdraw from the project and receive a refund.

They report that most TON investors have decided to withdraw with the 72% refund
They report that most TON investors have decided to withdraw with the 72% refund

The Disruptive Era Fund, which was reported to have invested more than $ 70 million, added that the majority of TON investors have reportedly opted for this option. The decisions have yet to be finalized, a fund spokesman told Forbes.

Investors choose to resign out of consideration for possible U.S. lawsuits.

Other TON investors have also opted for an immediate redemption option. They report that Egor Vinogradov, CEO of Sun Crypto Management, said that “everyone” in their circle has decided to take over 72%.

As reported Some investors have already received their refund. Anatoly Knyazev, CEO of the investment company Exante and investor in TON, reportedly announced that Telegram has already paid back 72% of its investment.

Knyazev added that Telegram had not attempted to force TON investors to participate in the project. He noted that the decision was based primarily on concerns about possible lawsuits from US investors.

According to Forbes data US investors represented $ 42.5 million $ 1.7 billion from TON’s ICO. The total number of TON investors was 175 companies, with 39 investors coming from the United States. As Cointelegraph reported TON’s US investors are not eligible for the 110% repayment option. This is due to “the unsafe position of the United States regulators”..

Some TON investors have not made a decision yet

While most TON investors appear to be preparing to fold with a 75% refund, Some investors have not yet made their decision. David Yakobashvili, co-founder of Wimm-Bill-Dann Foods, invested $ 60 million. Despite the official deadline of May 15, he is reportedly still negotiating credit with Telegram.

Still There are some investors who would like to support Telegram and expect a 110% refund in April 2021.. Sergey Solonin, co-founder of the Qiwi Group and TON investor with $ 17 million, decided to extend his investment as a loan to Telegram, Cointelegraph reported on May 16.

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