Pavel Durov Proposed to Re-register TON Investments as Loan

Colin Baseman

The development team of the Telegram Open Network blockchain platform submitted new conditions for the return of original investments into the project for non-US investors. The information has been provided by The Bell with reference to two investors.

So, they offered the investors to register their holdings in the TON project as a loan at 52.77% per annum in order to expect a 110% return of their original investments in 2021.

Telegram reserves the right to repay this loan at any time yet no sooner than in three months. In this case, the investors will receive 72% of the original holdings plus interest on the loan which will accrue before the date of repayment.

The letter did not contain any information on launching the main TON network.

On May 4, Pavel Durov sent out two versions of the letter from the TON team. Non-US investors were informed of the decision to abandon payments in GRAM tokens or another cryptocurrency even in 2021 due to the "uncertain position of US regulators."

US investors are to forcibly withdraw 72% of the holdings.

To return funds to the investors, Durov announced his readiness to sell his stake in Telegram.

The launch of the TON platform is postponed to April 30, 2021.