Eastern Europe

Telegram Raises $1Bln, With Russian Direct Investment Fund Buying Bonds

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Telegram has sold more than $1 billion in bonds to international investors, founder Pavel Durov announced Tuesday —  with Russia’s state-run Direct Investment Fund (RDIF) now among the firm’s backers.

Durov, who founded Russia’s leading social network VKontakte before launching messaging app Telegram, said the investment will “enable Telegram to continue growing globally, while sticking to its values and remaining independent.”

The investment comes after Durov scrapped a $1.7 billion Telegram blockchain project last year after the U.S. Securities and Exchange Commission (SEC) ruled the entrepreneur had raised funds through an illegal initial coin offering (ICO). He was forced to return more than $1 billion to investors who were asked to swallow a 28% loss on their initial investment…

To read more visit The Moscow Times.

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1 comment

Victor March 28, 2021 at 4:41 pm

So now the Americans control all the Crypto exchanges too?
Jeeze, so much feedom, good thing we aren’t Communists. /s


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