October 11, 2019 Telegram token distribution halted by SEC following unregistered securities offering charges.

Telegram raised $1.7B in a 2018 private token sale, with investors including a variety of high-profile US VCs. Per the terms of the offering, Telegram is required to distribute tokens by October 31 or return the invested funds. The SEC order highlights the significant discounts for early investors and conversations with Telegram management stating that a liquid secondary market would be established soon after network launch.