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Liquid Cancels Sale of Telegram's Gram Tokens, Returns Funds to Investors

Published 01/16/2020, 06:40 AM
Updated 01/16/2020, 08:22 AM
Liquid Cancels Sale of Telegram's Gram Tokens, Returns Funds to Investors

Liquid Exchange has canceled the sale of Telegram Open Network’s (TON) Gram tokens, according to a Jan. 10 company post. The exchange returned the funds of all investors who participated in the unofficial sale.

The exchange reportedly canceled the sale due to the delay in the launch of TON’s mainnet. At the time of the sale in July 2019, it was believed that the network would be live on Oct. 31. However, the launch was impeded by the SEC’s investigation into the original Gram offering, which it argues was an unregistered sale of securities.

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