Trading platform Liquid canceled sales of Telegram token Gram and refunded users' funds

According to BlockBeats, due to the delay in the launch of the Telegram blockchain TON main network, japan-based Liquid trading platform has cancelled the sales plan of Gram, Telegram's cryptographic asset that has not yet been launched, and 100% of users' funds have been returned.

Liquid had previously claimed to be Gram's biggest seller in Asia and one of the project's investors, BlockBeats reported. Telegram's blockchain network, TON, was supposed to go live last year, and Gram, its token currency, would be released simultaneously, with the proceeds from pre-sales held in escrow until then. Liquid said the terms of the sale required TON to be available by November 30, 2019, but the sale had to be cancelled because of the current situation. "Participants get 100% of their money back," says Seth Melamed, Liquid's head of business development. "there's no charge."

The securities and exchange commission (SEC) sued TON in 2019, saying that Grams was actually an unregistered security, and ordered the company to halt TON's blockchain rollout. As for the delay, most investors in the Telegram blockchain project decided not to ask Telegram to return their earlier investment in the project, and agreed with TON's previous proposal to delay the launch of the main network until April 2020. & have spent

Original address:https://www.coindesk.com/liquid-exchange-cancels-sale-of-telegrams-gram-tokens

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