Picture by Tom Warren / The Verge
After years of drama with the SEC, Telegram is asking it quits on its crypto-focused subsidiary, Telegram Open Community (TON).
“Telegram’s energetic involvement with TON is over,” wrote Pavel Durov, founder and CEO, in an announcement on his channel. “You might even see – or could have already seen – websites utilizing my title or the Telegram model or the ‘TON’ abbreviation to advertise their tasks. Don’t belief them together with your cash or knowledge.”
TON was a blockchain platform designed to supply decentralized cryptocurrency to anybody with a smartphone, in a similar way to Fb’s Libra venture (which has additionally confronted significant scrutiny).
Final October, the SEC ordered Telegram to halt gross sales of its cryptocurrency (referred to as Gram) after it did not register…