WhatsApp’s direct competitor and the most infamous messenger has raised $850 million by launching its own cryptocurrency
Right after the horrifying terrorist attacks in London and Manchester last year which shook the entire world, the UK government decided to single out the controversial tech company Telegram along with a bunch of others which also include big players like Facebooks WhatsApp and Apple iMessage.
These platforms provide services wherein a user can send messages with the assurance that they are protected using encryption, which has been issued in interest of protecting the users private information, What proved to be a boon for customers isn’t exactly an advantage for internet securities and higher authorities as they cannot track user activities under such disastrous scenarios.
Known for their notorious nature this tech company founded in Russia and now situated in Dubai who has almost 200m users seems to get more and more defiant, paying absolutely no attention towards their ongoing reputation they have taken a rather astonishing step forward having launched their own version of bitcoin and plan to raise funds using their cryptocurrency, this move will certainly prove to be very hard to resist and will get a lot of attention.
Having already raised $850m (£605m) through what’s known as an initial coin offering (ICO) or token sale, according to fresh filings made with the US Securities and Exchange Commission (SEC).
Telegram is arguably one of the most high-profile companies to have taken a step into the world of ICOs and in doing so have rightfully managed to peak the interests of top Silicon Valley venture capitalists. The pre-sale proving to be just a glimpse of what’s yet to come ahead of a wider way more tremendous offering in which they could raise well over $2bn, according to reports, which would represent the biggest ICO to ever exist as of now.