Jaws drops as Telegram ICO presale hits $850,000,000 breaking the highest Blockchain Fundraising Record ever set by Filecoin is September. It is reported that Telegram initially had a budget of $600,000,000 for ICO presale and a budget of $1,000,000,000 total ICO sale, the presale record of over 40% increase leaves the crypto world with unattended questions of what the Telegram (main) ICO sales would achieved.
With a token Sale that ended 8 September, Filecoin set a record of $257,000,000 as its ICO sales proceed against an initial fundraising budget of $40,000,000 with 643% increase, Filecoin laid a path for other blockchain fundraising projects to take. Telegram ICO has however broken this record in the most astonishing way ever with an ICO presale (Blockchain Fundraising Record) of $850,000,000 out of the budgeted $1,000,000,000 since Jan. 29, when the token sale officially began, this leaves me picturing the real deal (Telegram ICO sale).
With the backing of the Rule 506(c) of Securities Act Regulation D, under which Telegram ICO is reported, it is alleged to have only 81 investors raising $850,000,000, which states that “a company can broadly solicit and generally advertise the offering and still be deemed to be in compliance with the exemption’s requirements if:
- The investors in the offering are all accredited investors; and
- The company takes reasonable steps to verify that the investors are accredited investors, which could include reviewing documentation, such as W-2s, tax returns, bank and brokerage statements, credit reports and the like.
Purchasers of securities offered pursuant to Rule 506 receive “restricted” securities, meaning that the securities cannot be sold for at least six months or a year without registering them”.
Telegram ICO sales has no limitations whatsoever as long as all conditions are met and a “Form D” must be filed with SEC.