The company is ready to refuse carrying out of public sale token of their blockchain-platform Telegram Open Network. According to RBC, the next round of ICO will be held in private among a small circle of investors, specially selected funds iTechCapital and Da Vinci Capital. Information was confirmed by three participants in the second round (which is now), as well as its own source of RBC familiar with the situation:

“They even for the private placement it is possible to gain all they need amount offers from many investors. Besides “inappropriate” to investors they can now deny, what with the public offering may not happen”.

However, in a Whitepaper of the project refers only to the percentage distribution of the tokens, but not about the nature of their distribution. The company planned to leave 44% (or 2.2 billion Grams) for public sale, but now the TON concentration of assets could increase in spite of expert forecasts. Back in January of this year, investors expected that the company will receive 600 million U.S. dollars through a public sale Grams.

Possible loss of Telegram compensates by increasing expected volume of ICO, due to the increased token price: from 0.38 dollars per Gram in the first round to 1.1-1.45 $ — in the second.

However, the owners of the more costly assets of the second wave can be at risk: February 27 Telegram sent to potential investors a document stating that the company does not guarantee refund in case of failure. At the time of writing, the relationship between the possible abolition of the public ICO and this newsletter is not installed.