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this was obviously going to happen. how telegram could have imagined this going any other way is beyond me. i'm not even a lawyer and i could have told them thi
by risho 7y ago
this was obviously going to happen. how telegram could have imagined this going any other way is beyond me. i'm not even a lawyer and i could have told them this.
- KKKKkkkk1 7y agoWell, maybe they should have hired you as their counsel then. Unlike many of the SEC’s targets, Telegram had the advice of a Wall Street law firm before raising funds, while the investors in its digital-coin sale included the Silicon Valley venture-capital firm Kleiner Perkins Caufield & Byers, as well as executives from Fortress Investment Group and SoftBank Group Corp.
- LunaSea 7y agoAnd we all know how great SoftBank is with due diligence.
- josh2600 7y agoTheir lawyers were Skadden-Arps. They are not dumb. The ultimate outcome of this is still TBD. It's entirely possible that Telegram will settle and be able to release their coin, it's a question of how much of the money they will have to disgorge and what penalties the SEC will impose to extract that settlement. Telegram raised a TON of money, so I expect they will eventually get to a settlement. It's really just a question of what terms. Depending on those terms, their strategy was either a bad or good decision.