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Cryptocurrency is a medium of exchange, namely digital cash and crypto currency. It can be sold or bought and is used to purchase goods and services online. What makes it different from the ordinary currency is that it is secured by cryptography and a network of computers verifying every transaction. As decentralized digital money, cryptocurrency is based on blockchain technology. The most widely used cryptocurrencies nowadays are Bitcoin, Ethererum, LiteCoin, and Ripple.
Telegram and SEC Concluded a Settlement Agreement. Durov Will Pay a Fine of $18.5 Million and Return $1.22 Billion to TON Investors
On June 25, it became known that Telegram and the SEC entered into an agreement of lawsuit, under which Durov’s team would pay a fine of $18.5 million, and would also be obliged to return $1.22 billion to investors.
TON development team stops its active participation in the project for the reasons we wrote about earlier. The efforts of the team were redirected to other projects.
On May 12, Pavel Durov announced the closure of the Telegram Open Network (TON) project. That's why the lawyers of Telegram Group Inc. decided to withdraw a March appeal against a court order banning the sale of Gram.
The most long-awaited event in the world of cryptocurrency has happened recently. The third bitcoin halving took place on May 11.
Many investors did not believe that the TON project would start either this year or a year later, and they were right. Today, Pavel Durov officially announced that Telegram's active involvement with TON is over.
Investors of the TON blockchain platform are no longer sure that Durov will launch the platform, so TON Labs announced an analog of TON – Free TON.