A group of investors wants compensation for the way Telegram refunded them, and is suing the company in London.
Telegram is closing the page of its $1.7 billion token sale and paying back its last debts to the token buyers. The company just raised more funding via bonds and planning an IPO.
The investor said it would go to court if its compensation demand was not met, according to Forbes Russia.
"Crypto Mom" took no prisoners in her fiery rebuke of the SEC's Telegram action.
Kik's proverbial day in court may take a lot longer than Telegram's, if the judge’s response to the SEC during a hearing this week is any indication.
Telegram has settled its six-month court case with the SEC, agreeing to pay $18.5 million in penalties and to notify the agency if it plans to issue another digital asset in the next three years.
Telegram CEO Pavel Durov reportedly donated about $90,000 worth of bitcoin to help alleviate the financial burden of COVID-19 pandemic in Russia.
Telegram has thrown in the towel in its court battle against the U.S. Securities and Exchange Commission and will no longer be appealing the ban on its blockchain token project.
Some backers of the now-shelved TON blockchain project are in talks to sue Telegram over their refund structure.
Telegram's Pavel Durov rails against the SEC's "ossification." But his TON project was always on shaky ground legally-speaking, says Preston Byrne.
Telegram CEO Pavel Durov says the company is abandoning its TON blockchain project after losing an initial court fight with the SEC.
Telegram will fork over bank records and communications with its investors in an agreement with the SEC as part of the agency's ongoing lawsuit.
TON Labs, a startup that helped Telegram run the test network for its blockchain network, launched its own version called Free TON Thursday, with the support of professional validators.
Telegram says it won't be repaying investors in its 2018 TON token sale in gram tokens, one week after saying it could do so once the network launches.
Telegram's success blinded investors to the risks inherent in building blockchains and raising a token sale, says a long-time observer.