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TON Responds to Investors After SEC's Attack, Telegram Cryptocurrency Might Be Delayed

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    Telegram cryptocurrency TON may be delayed due to a lawsuit filed by SEC, a letter to investors said

Cover image via news.u.today

Telegram Open Network (TON) developers finally responded to their investors after a lawsuit filed by SEC. In a letter to investors, which was shared with the U.Today editors, the Telegram Open Network clarifies the situation with SEC, as well as talk about possible solutions to the problem and even delaying the launch date of the TON cryptocurrency.

The letter said, that the developers have actively interacted with the US Securities and Exchange Commission over the past 18 months, as well as received feedback on the TON blockchain. However, the SEC decision openly surprised them, here are the words from the letter:

“We were surprised and disappointed that the SEC chose to file the lawsuit under these circumstances, and we disagree with the SEC's legal position.”

At the moment, cryptocurrency developers, together with consultants, are looking for the best way out of the situation. Here is what the letter says:

“We are continuing to evaluate the best means by which to resolve the situation in the interests of relevant parties, including but not limited to assessing whether to seek to delay the launch date.”

From the above words, it can be understood that the launch of the Telegram’ cryptocurrency planned for October can be delayed.

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About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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Bitcoin Price Likely to Decline to $7,800: Crypto Analyst

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    Bitcoin is to find support at $7,800 or recover to $8,300, an analyst writes, but either way ‘continuation of the ranging on either of the levels is going to occur’

Cover image via www.123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Over the last few days, Bitcoin has been trading below the $8,500 area. At the moment, it has recovered to $8,258 after the recent slip below the $8,100 level.

Analysts have been bullish on BTC in the long run, however, the nearest BTC price movements are expected to be bearish.

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The crypto analyst @CryptoMichNL believes that there are two paths ahead of Bitcoin at the moment. If it fails to recover to $8,300, he says on his Twitter page, then the market should be ready for the flagship coin to drop and find support at the $7,800 or $7,300 levels.

Whichever way it goes, ‘continuation of the ranging on either of the levels is going to occur’.

The analyst tweeted this forecast twice with an hour pause.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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