A federal judge issued a preliminary injunction stopping Telegram's planned resale of $1.7 billion in gram tokens, saying it is "part of a larger scheme to distribute those Grams into a secondary public market."
The Securities and Exchange Commission issued an alert Tuesday, urging investors to proceed with caution before investing in IEOs through online trading platforms—which often tout themselves as exchanges—especially when those platforms are located overseas.
The U.S. Securities and Exchange Commission asked a judge on Thursday to make messaging service turned blockchain developer Telegram open its books in an effort to stop what it believes is an illegal securities offering. Telegram raised $1.7 billion in the first quarter of 2018 by pre-selling 2.9 million gram tokens.
The Securities and Exchange Commission doesn’t understand cryptocurrencies, is unfair, and is out of touch with what its own commissioners are saying in public.