Telegram raises $1.7 bn in world's largest coin offering
Encrypted messaging app Telegram has raised $1.7 billion in the world's largest Initial Coin Offering. The company's Founder and CEO Pavel Durov plans to use the proceeds to develop the Telegram Open Network (TON) blockchain, which includes the cryptocurrency Gram. TON is designed to host a new generation of cryptocurrencies and decentralised applications to rival the popular Ethereum platform.