Bullish Shift For TON: Price Breaks Above $2 Following Telegram CEO’s Gram News
Toncoin (TON) roared higher on Monday, climbing about 11% and pushing above roughly $2.30 earlier in the day before cooling slightly. The jump came after Telegram founder and CEO Pavel Durov announced that The Open Network’s native token will be renamed from Toncoin to “Gram” over the next three weeks. TON Shift To ‘Gram’ Durov said the rebranding is more than marketing. “TON’s native currency is becoming Gram,” he wrote, adding that “Gram was the original name of TON’s currency in the first white paper.” In his message, he described the move as a return to the network’s roots....
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Telegram's TON saga seems far from over, as a disgruntled investor seeks compensation. Da Vinci Capital, a major investor in Telegram’s $1.7 billion initial coin offering, has reportedly requested compensation for the failed launch of the Telegram Open Network, or TON.Investors at Da Vinci Capital reportedly sent a letter before claim to Telegram CEO Pavel Durov, stating that the fund is planning legal action against TON Inc. and Telegram, Forbes Russia reports Monday.Citing anonymous sources close to Da Vinci, the report states that the fund has demanded $100 million incompensation from....
Telegram must pay $625,000 to Lantah LLC — a small crypto firm it sued in 2018 over using the ‘GRAM’ trademark and ticker. Telegram Messenger Inc. has been ordered to pay nearly $625,000 worth of legal fees to a small cryptocurrency firm that it sued over using the ‘GRAM’ crypto-ticker and trademark.In a Nov. 2 ruling, U.S District Judge Charles Breyer granted $618,240 in attorney’s fees for 1,030.4 hours work billed at $600 per hour. Lantah had requested compensation at a rate of $900 per hour, but the judge reduced the fees to meet the market rate for the services.Lantah was also awarded....
The TON blockchain created by Telegram co-founder and CEO Pavel Durov is promising big things will happen this year, setting itself a goal that no other blockchain has yet been able to achieve – it’s aiming for nothing less than mass adoption. TON was created by Durov and his brother Nikolai back in 2017. It’s one of the most ambitious blockchain projects of all and all the more so when we consider its tumultuous past. Designed to be vastly superior to Bitcoin and Ethereum in terms of speed and scalability, TON got off to a good start, raising almost $1.7 billion from investors....
The legal battle between the U.S. SEC and Telegram could be a strong warning against the SAFT process. Telegram is a popular, global, cloud-based instant messaging, videotelephone and voice-over service company. Particularly popular with crypto-enthusiasts, at the end of 2017, Telegram came up with a plan to raise funds to support the development of a new crypto asset, dubbed Gram, and a network originally planned as the Telegraph Open Network. Proceeds would also fund further expansion of the messaging service that had previously been funded by the founders.Telegram set out to fundraise....
While Telegram's token project is dead, the blockchain still lives. TON Labs and China’s Blockchain-based Service Network are collaborating to build applications on the Telegram-built TON protocol.According to an announcement issued on Monday, the partnership grants BSN developers access to TON technology.As with other instances of adapting public networks to the BSN China infrastructure, TON Labs will adapt the Telegram-built TON protocol to suit the demands of Chinese regulations. Hence, the TON network implementation on BSN China will be an Open Permissioned Blockchain or OPB....