Telegram plans multi-billion dollar ICO for chat cryptocurrency

techcrunch.com

Encrypted messaging startup Telegram plans to launch its own blockchain platform and native cryptocurrency, powering payments on its chat app and seeking to replace Ethereum with a $1.2 billion ICO. To be clear, the Telegram app is great engineering made by a legitimate team out of Russia. But, this just smells very funny to me - the biggest red flag being the insane amount of money they're looking to raise. The Ethereum Foundation raised $20 million in Bitcoin, and look at what they've been able to accomplish! Techcrunch is out with a deep-dive exclusive piece on Telegram, which reminds me of a similar Techcrunch article about another Ethereum-killer project that raised $ hundreds of millions this past summer and is currently floundering.

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