The Big Investment: What Happened?

Back in January 2018, a little known Chinese company, The9 Ltd, made a splash by investing a cool $2 million in tokens during Telegram’s initial token offering (ICO). According to official filings with the United States Securities and Exchange Commission, The9 snagged a whopping 5,297,257 tokens, making them the first known foreign investors in Telegram’s ambitious project.

The Mysterious World of ICO Participants

Now, let’s talk secrecy! Out of the 81 investors who banded together to raise a remarkable $850 million during the initial ICO, only three names have been unearthed: Sergey Solonin, David Yakobashvili, and the TMT Investments venture fund duo, German Kaplun and Alexander Morgulchik. The remaining identities? Well, they prefer to remain in the shadows as elusive as a cat on a hot tin roof!

Token Prices: Then and Now

Cast your mind back to the first ICO where tokens sold for $0.38 each. Fast forward to the second ICO round, and they were going for between $1.10 to $1.45! That’s like finding a vintage bottle of wine in the back of your cupboard. Prices not only went up; they soared, marking significant interest from investors.

The9 Ltd: More Than Just Token Investors

Founded in 1999 by Zhu Jun, The9 Ltd isn’t just a crypto investor. This company has gaming in its DNA! Remember World of Warcraft? The9 was the exclusive distributor in China during its heyday. Zhu Jun, holding over 80% of voting shares, seems to be steering the ship towards a promising future in the crypto sea.

The Contract Drama: Telegram vs. Investors

Speaking of drama, South Korea’s Gram Asia stirred the pot by launching a sale of rights to its Gram tokens for $4.00 each on a Japanese crypto exchange. However, a Telegram investor raised a red flag, pointing out a potential violation of the investor contract. According to the contract, engaging in any agreements that transfer ownership in part or whole is a no-go. Talk about a contractual conundrum!