Encrypted messenger Telegram ends cryptocurrency project

The Telegram messaging service has announced it is ending an ambitious cryptocurrency and payments system project after a legal battle with regulators in the United States.”We are announcing the discontinuation of our blockchain project,” Telegram founder Pavel Durov announced on his Telegram channel late Tuesday, saying it was a “sad day.”The Telegram Open Network (TON) platform based on blockchain technology was designed to be a secure payments system, offering an alternative to Visa and Mastercard.Telegram raised a record sum of $1.7 billion from 200 private investors during a massive initi…

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