Telegram Releases Test Crypto Wallet Despite SEC Lawsuit
Telegram, the messaging app company turned blockchain startup, has released an early desktop wallet for its crypto token.
Telegram told investors it was using BNY Mellon and Credit Suisse, to move and store fiat raised in last year’s token sale, court filings indicate.
The U.S. Securities and Exchange Commission (SEC) wants Telegram’s former chief investment advisor to testify and hand over documents related to the company's $1.7 billion 2018 token sale.
U.S. District Court Judge P. Kevin Castel in New York signed an order to Britain's High Court to depose John Hyman, Telegram's chief investment officer.
Telegram's founder and CEO Pavel Durov, plus two other employees, should be deposed to give testimony in the SEC case over whether the gram token is a security, a judge has ordered.
Messaging app firm Telegram has made a new plea to a U.S. court to drop an action brought by the SEC alleging its token is a security.