Telegram refuses to disclose financial data on ICO to SEC

According to Finance Magnates, Telegram is reluctant to submit financial details related to the ICO to the Securities and Exchange Commission (SEC). In a court filing filed on January 2, U.S. market regulators requested a court order to force the company to disclose its bank records, which would show how it used the funds raised over the past two years. Telegram declined to disclose bank records about how it used the $ 1.7 billion it had raised from investors over the past two years, and declined to answer questions about investor disposition. It is reported that Telegram raised $ 1.7 billion in two rounds of token sales in early 2018 to develop its blockchain project TON.