Russian Oligarchs to Invest in TON, - SEC

It's reported that Russian billionaires Roman Abramovich and Mikail Abyzov are the TON investors
05 March 2020   722

The US Securities and Exchange Commission (SEC) has announced the new names of investors of the Telegram Open Network blockchain project. CoinDesk reported it.

To the previously well-known participants of the $ 1.7 billion TON token sale, among others, billionaire Roman Abramovich and former Minister for the Coordination of the Open Government, Mikhail Abyzov, were added. They acquired tokens through offshore funds.

The new documents were disclosed as an appendix to the expert report of the University of Oregon professor Stephen McKeon, who was hired by Telegram to prepare an analysis of the blockchain project. The report was filed with the District Court of the Southern District of New York in January, but did not receive due attention. It is accompanied by many applications, including the “List of potential validators at the launch stage (second round buyers)”.

The second round ended in March 2018 and brought Telegram another $ 850 million in addition to the same amount collected earlier. The names of the participants were kept secret, and investors were forbidden to speak publicly about their investments.

The list includes Norma Investments Limited, owned by Roman Abramovich, who invested $ 10 million in the second round. Rumors about Abramovich’s participation in the TON ICO have been around since the end of the first round, but he himself never commented on this information.

The Larnabel Ventures fund, controlled by the family of billionaire Mikhail Gutseriev, is also indicated as a participant in the second round. He acquired $ 15 million Gram tokens.

Another participating fund, Batios Holdings Limited, is managed by Mikhail Abyzov, according to the SEC database. Abyzov was arrested in late March 2019 on suspicion of fraud. He ended his career in government in May 2018, that is, after the end of the Telegram ICO.

In addition, Jan Marsalek, CEO of Wirecard, a German payment service, was included in the list. He invested $ 7 million. Last year, Wirecard entered into a partnership with TON Labs to "develop joint digital financial services, payments and a banking platform."

Earlier it was reported that Qiwi CEO Sergey Solonin and Wimm-Bill-Dann founder David Yakobashvili became participants in the ICO TON. According to publicly available statements, they invested $ 17 million and $ 10 million, respectively. However, McKeon’s documents say that Yakobashvili could invest $ 50 million. This makes him one of the largest participants in the entire campaign.

SEC and Telegram met in court on February 19. As a result of the meeting, the judge promised to make a decision by April 30 - the date by which TON investors agreed to wait for the project to start without requiring a refund.

Neo Foundation to Withdraw $11M From Cold Wallet

These funds will be used to finance its operations in currrent reporting year and $190M are stiill in the vault
26 March 2020   936

On March 25, the Neo Foundation announced the withdrawal of 1,660,865 NEO ($ 11 million) from the cold wallet to finance its activities in the current reporting year. About $ 190 million are still in reserves.

According to rules established in the Neo White Paper, the NEO tokens maintained by the Neo Foundation are mainly used to continuously support Neo's technological development, ecosystem growth, community expansion and the normal operations of the foundation and related organizations. 


Neo Foundation

According to the publication, 1,660,865 NEOs were transferred “from a blocked account to a current account”. As the information on the blockchain shows, these funds were directed to an address containing 14.6 million NEO or about $ 100 million. The project does not disclose who controls this address and what fate awaits the released tokens.

White paper Neo suggests that project costs in any given year should not exceed 15 million tokens. In the near future, a financial report for 2019 will be published.

At the time of publication, NEO is the 23rd largest asset on the market with a capitalization of $ 479 million. The price of one NEO is $ 6.79.