Liquid Exchange to Offer First Public Telegram GRAM Sale in July

Colin Muller

Gram Asia, a private holder of a large amount of Telegram GRAM tokens, has reached an agreement with the Japan-based Liquid exchange platform to resell an unspecified number of the tokens to the public, according to a report in Yahoo Finance. It is the first public sale of GRAM tokens, although they will not be tradeable until October.

Telegram the company are building a blockchain layer atop their widely used private messaging application of the same name, the Telegram Open Network (TON), which is set to go online in Q3 this year.

Although Telegram had originally planned to hold a 50/50 public-private sale of GRAM tokens for the TON platform, they scrapped these plans earlier this year citing regulatory concerns; and due to the fact that had already successfully raised $1.7 billion from private investors.

Liquid, a Japan-based cryptoasset exchange that's not to be confused with Blockstream’s Liquid Bitcoin sidechain, will begin selling the tokens next month. But critically, users will not be able to withdraw or trade these tokens until the platform goes live - with the release slated for October 2019. In fact, the release of purchased GRAM tokens will not occur at once, but rather in four releases over the course of 18 months.

GRAM release schedule(source: Liquid.com)

Another notable caveat is that customers from the U.S., Canada, Japan, and a number of other countries will not be eligible to buy GRAM tokens on Liquid. Holders of Liquid’s proprietary exchange token QASH will also apparently reap discounts if they use it to buy GRAMs.

Good for Liquid

Liquid is a highly regulated exchange with hundreds of employees spread out across Asia, and valued at a billion dollars after securing additional investment a couple of months ago. At time of writing, the exchange only processed a modest daily trading volume of $144 million, according to CoinMarketCap.com - about 1/10th of Binance’s trading volume.

QASH chart 11 june 2019(source: CryptoCompare)

The QASH token has seen a modest bump in price since the announcement, climbing about 20% in price between the news and time of writing.

Unknown Fund Investing $75 Million in Bitcoin for the Development of Anonymity

  • Unknown Fund has pledged to donate and invest $75 million in bitcoin to promote the development of anonymity.
  • The fund will prioritize projects that protect personal data, including crypto and blockchain. 

An anonymous organization by the name of the Unknown Fund has pledged to donate and invest $75 million in bitcoin for the further development of privacy-focused projects. 

According to the press release published Nov. 13, Unknown Fund has announced an intention to invest and donate $75 million in BTC to “startups which directly or indirectly support the idea of anonymity.” The release claims the fund will give preference to projects focused on the protection of personal data, tools for anonymity, cryptocurrency and blockchain. 

An anonymous spokesperson for the fund said, 

We are you, we are your sons and daughters, brothers and sisters, friends and colleagues. Our ranks consist of representatives of many countries and nationalities, united by a virtual comradely spirit and the belief that we are fighting for the good of many, and not for the benefit of some. Anonymous is the voice of those who believe in truth, freedom and the right to self-expression.

The release claims the fund is comprised of “ordinary, anonymous people” from different countries who first met through collaborating on the forum 4chan. The group calls the protection of personal data “one of the main challenges for modern man” and claims that data collection has already been used as a powerful tool for manipulation. 

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