Apple Co-Founder Steve Job’s Widow Invested At Least $5M Into Telegram’s Controversial ICO
Telegram's Open Network (TON) Initial coin Offering saw a few well known names as investors in the Gram tokens (GRAM) ICO project, such as Mikhail Abyzov, former Russian Minister of Open Government Affairs, Russian-Israeli billionaire Roman Abramovich, and Laurene Powell Jobs, Steve Jobs’s widow.
According to BlockTV, she was an early investor in the blockchain project. She invested $5 million or more since $5 million was the minimum amount for an entry in the pre-sale funding round. Laurene Powell Jobs inherited around $20 billion from her husband. Today, she’s a businesswoman, the social change organization Emerson Collective’s executive and a philanthropist.
Telegram Raised Around $1.7 Billion from the ICO
In 2018, Telegram managed to raise around $1.7 billion with its ICO. The company that has Pavel and Nikolai Durov as founders encountered some problems with the (SEC) and no longer launched the project. The SEC states there are thirty nine investors that were committed investors of the TON's ICO.
Telegram Didn’t Register the Token Sale
The charge brought by the SEC against Telegram is that the token sale was never registered, which represents a violation of the law in the US. 1 billion GRAM was bought by American investors, at a price starting somewhere under $1. The total of tokens bought by 171 people and organizations from across the world was 2.9 billion tokens.
The US Markets Saturated with Illegal TON
Last year, the SEC stopped Telegram’s token offering, saying it doesn’t want the US markets to be flooded with tokens that were sold illegally. Here’s what Stephanie Avakian from the SEC’s Division of Enforcement had to say about the matter:
“We allege that the defendants have failed to provide investors with information regarding Grams and Telegram’s business operations, financial condition, risk factors, and management that the securities laws require.”
Telegram Still Launching a Blockchain Platform
In spite of all that happened, Telegram is still developing and planning on initiating their blockchain platform. In early 2020, the exchange released a notice of the TON and GRAM tokens to the public. Aside from Laurene Powell Jobs, Roman Abramovich, the Russian Israeli billionaire, and former Minister of Open Government Affairs in Russia, Mikhail Abyzov, also participated to the ICO.