[TechWeb report] May 3rd news, according to the Wall Street journal, the Wall Street Journal reported that after raising $1 billion 700 million from 200 private investors, the security information service Telegram will cancel the original ICO plan and will not sell its encrypted currency to the public.
In February, the company launched the first advanced encryption currency and raised $850 million, and in March, it raised $850 million by selling encrypted money. The company’s original plan was to raise $2 billion through pre-sale.
But as reported, Telegram believes that it has raised enough money, and it also wants to avoid ICO censorship, so it intends to cancel the original ICO plan.
Telegram will use the $1 billion 700 million fund in the company’s Open Network project. (Little Fox)