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According to a document filed with the US Securities and Exchange Commission, the Chinese company The9 Ltd bought 5,297,257 tokens during an initial offer of Telegram tokens in January 2018 for $ 2 million. The filing also indicates that The9 has invested in several blockchain-based companies in 2018.
According to a report by the Russian economic news agency RBC dated July 24, this document proves that The9 is the first foreign investor known to the general public. According to RBC, investors in Telegram's initial offering of parts (ICO) are largely unknown.
Some details on upcoming ICO participants
During the first ICO, 81 investors helped raise $ 850 million, but only three out of 81 identities are known. It would be Sergey Solonin, David Yakobashvili and a venture capital fund of TMT Investments co-founded by Germany's Kaplun and Alexander Morgulchik. RBC notes that Telegram has collected $ 850 million in its second ICO, but that the identity of these investors remains totally unknown to the public.
In addition, according to the report, the chips sold for $ 0.38 in the first round, while the price of the token went from $ 1.10 to $ 1.45 in the second round of ICO.
The9 Ltd designs and distributes games online. In the early 2000s, he would be the exclusive distributor of World of Warcraft in China. The firm was founded in 1999 by entrepreneur Zhu Jun, who holds more than 80% of the voting shares of the firm.
As previously reported by Cointelegraph, Gram Asia, in South Korea, has launched an event to sell the rights of its Gram chips at $ 4.00 per chip on the Japanese crypto-exchange Liquid. However, a Telegram investor pointed out that this appears to violate Telegram's investor contract, which allegedly stated:
"CONCLUDE AN EXCHANGE CONTRACT OR ANY OTHER AGREEMENT TRANSFERRING, IN WHOLE OR IN PART, THE ECONOMIC CONSEQUENCES OF THE PROPERTY OF THE INVESTMENT CONTRACT represented by this Purchase Agreement or any token."
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