Liquid Exchange Bows Out: The Fate of Telegram’s TON Tokens

Cancellation of the Gram Tokens Sale

In a stunning twist, Liquid Exchange has pulled the plug on its sale of Telegram’s Gram tokens, sending shockwaves through the crypto community. On January 10, the company broke the news through a social media post, reassuring investors that their funds from the unofficial sale would be returned in full. Talk about a surprise exit!

The Reasons Behind the Decision

Why the sudden change of heart? Reports suggest that the sale was canceled due to delays in the much-anticipated launch of the Telegram Open Network (TON) mainnet. Initially, back in July 2019, the launch was expected to go live by October 31. However, just like trying to find your lost socks in the laundry, the whole situation turned out to be much more complicated than anyone anticipated. Thanks to the SEC looming over Telegram like a dark cloud, the whole venture was thrown into chaos.

Liquid’s Terms of Sale and Refunds

To keep things on the up and up, Liquid outlined specific terms for the sale. Among them was a clear clause stating that if TON had not launched by November 30, 2019, all funds would be refunded. It seems they’ve stuck to their word, returning the investments promptly. It turns out that being financially conscious can sometimes pay off.

Telegram’s Unofficial Connection

Add a layer of intrigue to this tale: Liquid’s sale was unofficial, with no official ties to Telegram whatsoever. According to Telegram’s own policy, anyone who partook in the original initial coin offering (ICO) was prohibited from reselling or swapping tokens until 18 months after the network officially launched. That’s a long time to keep your hands off your prized investments!

What Lies Ahead for Telegram and SEC

The saga doesn’t end here, though. Telegram is still embroiled in a legal mess with the SEC. Sources claim that the SEC has recently acquired significant evidence in their case against Telegram. How this will affect the future of the Gram token and the TON mainnet launch remains to be seen, but one thing’s for sure: the drama isn’t over yet!

In Summary: Liquid Exchange has canceled the Gram tokens sale due to launch delays, returning funds to investors while Telegram’s legal battles continue.