Cryptocurrency News Today: Telegram promises to finish messy launch of its ‘cryptocurrency’ Gram by October 31
The long-awaited Cryptocurrency token from instant messaging platform Telegram is allegedly rolling out to investors very soon, but we should remain skeptical.
According to a report from The New York Times, Telegram will be delivering the “first batches” of the Gram tokens to investors by October 31.
Three investors – that have spoken with Telegram – told NYT that the messaging app is planning to make Gram wallets available to two-thirds of its 300 million global users. NYT‘s sources asked to remain anonymous as they have signed nondisclosure agreements.
The informants also told NYT that a test net of the Gram network will be released within the next week or two.
It’s a bold move from the messaging platform. Similar companies, like Facebook and Kik, have faced continued scrutiny over plans for their so-called cryptocurrencies.
Kik’s Kin token has been dragged across the regulatory coals following comments from the company’s CEO to employees that demand would be so great for the token its price would be sure to rise. “Buy today, sell tomorrow, profit,” he said.
As for Libra, it’s been an onslaught of regulatory challenges and scrutiny ever since it officially announced plans for its Cryptocurrency. It’s faced Senate hearings, competition probes from the EU, and even early members of its Libra Association are thinking about leaving the project.
Telegram however, has largely progr