The encrypted email application Telegram wants to raise nearly 4 billion dollars in cryptocurrencies
The encrypted messaging Telegram could reap up to 3.8 billion dollars via a cryptocurrency (ICO), which would be a record in the matter, said Friday experts
These funds, requested prior to the launch of the ICO, participated for $ 20 million each, it was said the same source, adding that the first phase of the exercise could reach $ 850 million, which joins figures published in recent days in the Russian press.
The encrypted messaging Telegram could reap up to 3.8 billion dollars via a cryptocurrency (ICO), which would be a record in the matter, said Friday experts. Several investment funds with a strong presence in the digital world, including Sequoia Capital and Kleiner Perkins Caufield & Biers, have agreed to participate, the experts interviewed said.
These funds, requested prior to the launch of the ICO, participated for $ 20 million each, it was said the same source, adding that the first phase of the exercise could reach $ 850 million, which joins figures published in recent days in the Russian press. Telegram has not yet officially confirmed. "We are on very large amounts, so far the largest ICO reached 250 to 300 million dollars but this is explained by the reputation of Telegram," told AFP Julien Maldonato, partner financial industry consulting at Deloitte firm.
This notoriety also comes from the founders of the messenger, Pavel and Nikolai Durov, "who hold a real credibility, because of the success of their previous companies", added Jonathan Gerardin, manager at Wavestone. "There is also the base of the users of the messaging (180 millions in the world, NDLR) as well as the future possibility of exchange of crypto-currencies, and thus of money, via the messaging, a possibility which interests many of people, "according to Gerardin.
"Maximizing returns on investment"
The interest of conventional investment funds can be explained by the "maximization of returns on investment" of previous ICO, estimates Greg Revenue, partner of Bryan Garnier & Co. The telegram messaging, created in 2013 by the brothers Durov, is first and foremost known for its ability to protect and anonymize exchanges. Its use by jihadist movements has regularly sparked controversy in recent years.
A nonprofit organization, Telegram is based on open source software +, that is to say free of rights and accessible to all in order to improve the program, and rejects any kind of control over its operation and its governance.
Used more and more often, especially by startups, ICOs are closely monitored by regulators for fear of fraud. In such an operation, instead of issuing shares or bonds, a company creates its own virtual currency or "tokens" exchangeable in virtual currency, and sells them to finance its development.
These funds, requested prior to the launch of the ICO, participated for $ 20 million each, it was said the same source, adding that the first phase of the exercise could reach $ 850 million, which joins figures published in recent days in the Russian press.
The encrypted messaging Telegram could reap up to 3.8 billion dollars via a cryptocurrency (ICO), which would be a record in the matter, said Friday experts. Several investment funds with a strong presence in the digital world, including Sequoia Capital and Kleiner Perkins Caufield & Biers, have agreed to participate, the experts interviewed said.
These funds, requested prior to the launch of the ICO, participated for $ 20 million each, it was said the same source, adding that the first phase of the exercise could reach $ 850 million, which joins figures published in recent days in the Russian press. Telegram has not yet officially confirmed. "We are on very large amounts, so far the largest ICO reached 250 to 300 million dollars but this is explained by the reputation of Telegram," told AFP Julien Maldonato, partner financial industry consulting at Deloitte firm.
This notoriety also comes from the founders of the messenger, Pavel and Nikolai Durov, "who hold a real credibility, because of the success of their previous companies", added Jonathan Gerardin, manager at Wavestone. "There is also the base of the users of the messaging (180 millions in the world, NDLR) as well as the future possibility of exchange of crypto-currencies, and thus of money, via the messaging, a possibility which interests many of people, "according to Gerardin.
"Maximizing returns on investment"
The interest of conventional investment funds can be explained by the "maximization of returns on investment" of previous ICO, estimates Greg Revenue, partner of Bryan Garnier & Co. The telegram messaging, created in 2013 by the brothers Durov, is first and foremost known for its ability to protect and anonymize exchanges. Its use by jihadist movements has regularly sparked controversy in recent years.
A nonprofit organization, Telegram is based on open source software +, that is to say free of rights and accessible to all in order to improve the program, and rejects any kind of control over its operation and its governance.
Used more and more often, especially by startups, ICOs are closely monitored by regulators for fear of fraud. In such an operation, instead of issuing shares or bonds, a company creates its own virtual currency or "tokens" exchangeable in virtual currency, and sells them to finance its development.
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