January 17, 2020 SEC alleges Telegram launched 2018 token sale to pay for servers.

Court documents reveal the United States Securities and Exchange Commission has accused Telegram of selling GRAM tokens in order to raise funds to pay for its messaging service’s servers, rather than the development of Telegram Open Network. The token sale raised $1.7 billion in 2018. The SEC sued Telegram in October of 2019 for selling unregistered securities.