Telegram Quits Court Fight With SEC Over TON Blockchain Project
Telegram has thrown in the towel in its court battle against the U.S. Securities and Exchange Commission and will no longer be appealing the ban on its blockchain token project.
"Crypto Mom" took no prisoners in her fiery rebuke of the SEC's Telegram action.
Kik's proverbial day in court may take a lot longer than Telegram's, if the judge’s response to the SEC during a hearing this week is any indication.
The investor said it would go to court if its compensation demand was not met, according to Forbes Russia.
Telegram has settled its six-month court case with the SEC, agreeing to pay $18.5 million in penalties and to notify the agency if it plans to issue another digital asset in the next three years.
Telegram CEO Pavel Durov reportedly donated about $90,000 worth of bitcoin to help alleviate the financial burden of COVID-19 pandemic in Russia.