Investors who wanted to participate in ICO Telegram received a new letter this week from the company, which talks about holding the second round of the closed presale. This is reported by The Verge, citing its own sources.
One of sources said that the size of the second round has not yet been determined, but the other two argue that it will be the same as the first round. That will be $1.7B in total. The public part of the campaign should start next month.
Cryptocurrency investor Carlos Mosquera argues that the amount that Telegram intends to attract during its crowdfunding campaign has changed several times already, and different sources transmit different information. Similarly, investors who participated in the first round of presale, reported that the discount on Telegram tokens varies from 30 to 80 percent relative to the price of the public part of the ICO.
A month and a half ago we got the pitch and the opportunity for Telegram. We passed because we received two or three different terms and deals by the same ICO. None of the information was clear.
Mosquera's company was not invited to participate in the second round of presale, but he said that he was not surprised that Telegram wants to raise more money during the closed part of the campaign. “Nowadays the presales are hotter than the crowd sale itself," he said.
The existing laws significantly limit Telegram's ability to conduct an open ICO in the United States, but for campaigns involving the resources of accredited investors, milder requirements apply, which may also explain the decision to launch a second round of presale.