Pavel Durov has raised $ 850 m in the pre-sale stage of an initial coin offering ( ICO ). The proceeds will go towards development of a first -generation blockchain called the Telegram Open Network , which is expected to offer more features than Ethereum and be larger in terms of scalability. The pre-sale initially aimed to raise $ 3bn-$5bn m but demand pushed it to $ 850 m, according to Bloomberg . Telegram aims to raise $ 600 in total.
Messaging app Telegram has raised $850m in the pre-sale stage of an initial coin offering (ICO). The proceeds will go towards development of a third-generation blockchain called the Telegram Open Network, which is expected to offer more features than Ethereum and be larger in terms of scalability. The pre-sale initially aimed to raise $600m but demand pushed it to $850m, according to Bloomberg. Telegram aims to raise $3bn-$5bn in total.