Telegram hid from the USA, where it spent the money collected to launch cryptocurrency

The US Securities and Exchange Commission (SEC) reported that the Telegram team did not tell it how they were

$1.7 billion received from investors was used to launch the TON blockchain and the Gram cryptocurrency.

Representatives of the messenger provided onlydata on banking operations, from which it became clear where Telegram received the funds from. The project team withheld information about what they were spent on. The SEC requires the court to oblige the company to disclose data.

The meeting is scheduled for January 7 and 8, 2020. There, Telegram founder Pavel Durov will act as a witness.

Recall, the project began to attract fundingthrough the sale of Gram tokens in January 2018. The launch of the cryptocurrency and blockchain platform was supposed to happen before October 31, but the SEC has achieved a temporary ban on the sale of Gram. It is reported that most project investors agreed to wait.