Telegram Launches Second Secret pre-ICO Salein News
“This is all just hype and speculation. If people think Bitcoin is hype then Telegram’s TON is super-duper-over hyped. No detailed explanation on the usage of funds and why do you require so much anyway?”Kaspar Järvekülg, a security advisor at Beel & Clark has another opinion:
“There is a pattern with all the ICOs, the whitepaper is becoming more and more like a sales pitch rather than the technical documentation of what will be achieved. Telegram’s TON is definitely looking like it will raise a lot more money especially with the interest it gathered over the past few weeks.”When the crowdsale opens with SEC breathing down on ICO companies with regulations, it is possible that Telegram would not venture in the US markets and would keep the presale open for accredited investors only – companies or individuals with a net worth of more than a million dollars.
Telegram’s public ICO was expected to take place in March. It’s unclear if the new second private offering affects the timeline for the public sale or how many coins will be available to the public at launch.
Telegram’s ICO is one of the most anticipated the cryptocurrencies world has seen, and it’s the first to attract more traditional Silicon Valley venture capital firms. But observers are skeptical of its value offering.Charles Noyes, a fund manager at the firm noted that it has instead stepped back from taking up the offer. He suggested that the funds could possibly be used to fund day-to-day operations at the company, instead of the project:
“My primary concern with it is that, in the first offering institutions are seriously looking at, they’re promising something that will somehow be radically better than everything else out there, with no real explanation of how that will happen or outside scrutiny of those claims,”Ben Cronjie, a Financial Advisor at a VC firm in Capetown says,
“Firms like us have been approached by multiple agents from the same company with different offers during the first presale, I doubt anything is going to be different now. We know of many firms that would be interested to invest just because of the media interests.”With social media companies continually coming under fire, and regulators targeting ICOs, it remains to be seen just how successful this project will be in the future - that is if it gets off the ground.
And what is your opinion on the reasons of the second pre-sale? Share in the comments section below.
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