TON to Report on Its Plans After SEC Actions

According to the letter to the investors, TON team was trying to get the SEC's feedback for 1.5 year, without any luck
14 October 2019   755

Telegram does not agree with the legal position of the SEC, but considers the delayed launch of the Telegram Open Network (TON) among possible solutions. This is reported by the Coindesk.

Over the past 18 months, TON developers have allegedly tried to establish communication with the department and receive feedback.

We were surprised and disappointed that the SEC chose to file the lawsuit under these circumstances, and we disagree with the SEC's legal position.
 

TON Team

Telegram lawyers are studying several options for resolving the problems that have arisen, including delayed launch. It’s also known that in the contract with investors the project is deadline until October 31 - otherwise, investments will have to be returned.

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   980

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.