Blockchain and Cryptocurrency: People, Culture and Tech
In a July 6 update, the development group driving TON wrote: “Our remaining validators will be switched off not later than 1.08.2020. Please save all relevant data and terminate your testing process.”
For eight months, the encrypted messaging app and the regulator have been coming to blows—with the SEC claiming the company’s $1.7 billion sale of gram tokens was an illegal securities sale. Under the deal announced on June 26, Telegram would pay an $18.5 million penalty and return $1.2 billion—about 70% of the funds raised—to investors.
The credibility of Craig Wright’s claim to be Bitcoin creator Satoshi Nakamoto took another hit on May 25, when he was called a liar in a message signed by 145 of the 16,404 Bitcoin block's addresses he told a court in January he had mined.
Telegram CEO Pavel Durov announced on May 12 that his messaging platform’s active involvement with TON is over—using a blog post to lambast the U.S. judge who effectively stopped the project from going ahead.
