Telegram Raises Target for Biggest ICO Ever to $2 Billion
- Telegram may raise $850 million in private sale, investors say
- Some Russian funds say they didn’t get allocation amid demand
The Great Cryptocurrency Crash?
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Encrypted messaging service Telegram raised the target for the largest initial coin offering ever to $2 billion, defying a rout in traded cryptocurrencies, according to potential investors.
Telegram is seeking $850 million in a private sale of tokens to large investors this month and $1.15 billion in a subsequent public ICO in March, said the people, who held negotiations with the company and asked not to be identified. The messaging service, used as a hub by the cryptocurrency market, previously sought to raise a total $1.2 billion, according to an investment proposal seen by Bloomberg News.