Chinese The9 Ltd to be First TON Investor

According to the SEC documents, The9 Ltd acquired 5,297,257 TON worth $2M which are planned to be released in 2019; the single coin price during ICO was $0.38
25 July 2019   610

The9 Ltd, a Shanghai company, was the first to invest in the Telegram blockchain project in the course of the closed ICO held in 2018. This is stated in the statements of the company posted on the website of the US Securities and Exchange Commission (SEC).

The materials indicate that The9 Ltd acquired 5,297,257 tokens of Telegram Inc. worth $ 2 million, which are expected to be released in 2019. Thus, the price of a single coin during the ICO was about $ 0.38.

The9 Ltd was founded in 1999. It develops its own online games and distributes games on the territory of the People's Republic of China of other well-known manufacturers. In the 2000s, The9 Ltd was the exclusive distributor in China of the World of Warcraft game published by Blizzard.

Since 2004, The9 Ltd has been trading on NASDAQ. In 2018, the company decided to diversify its business by including blockchain projects in its investment portfolio. In particular, The9 Ltd has entered into agreements with Gingkoo Technology and C & I Singapore Renewable and Innovative on the development of projects based on distributed registry technology, in particular, with renewable energy.

In 2018, Telegram raised $ 1.7 billion from 175 investors in the course of two rounds of a closed tokensale.

The launch of the Telegram Open Network (TON) blockchain platform will take place in the third quarter of 2019. Earlier, developers reported on the successful conduct of a closed testing project.

Sia Network Developers to Pay $225k Fine

Nebilous, startup from Boston, had to pay fine for the "unregistered securitities sale", which happened back in 2014
02 October 2019   173

Boston-based startup Nebulous, which developed the Sia Network cryptocurrency project, will pay a fine of $ 225,000 to the U.S. Securities and Exchange Commission (SEC) for selling unregistered securities.

Tokensale of Sia was held back in 2014. Total fees amounted to only $ 120 thousand.

Nebulous neither confirmed nor denied the allegations.