Telegram Investor Backs Durov Crypto Return to ‘Kick Zuckerberg’s Ass’ 101
Pavel Durov. Supply: A screenshot, Instagram/durov.

An investor in Telegram’s aborted Telegram Open Community (TON) blockchain platform says he believes the venture’s mastermind isn’t but able to stroll away from his failed preliminary coin providing (ICO) – and backed Telegram to return to the crypto fray with renewed vigor.

In a column for Forbes Russia, Pavel Cherkashin, a managing accomplice at Mindrock Capital and GVA Capital and one of many buyers within the doomed USD 1.7 billion TON ICO, wrote about his journey with TON.

He opined {that a} bitter feud involving Fb chief Mark Zuckerberg was the actual purpose for TON’s failure, confirmed earlier this week, however backed Telegram boss Pavel Durov to return to the venture in some kind.

Cherkashin wrote,

“Take into account me a hopeless optimist, however I nonetheless hope that Pavel Durov will give you a intelligent transfer to place this example proper.”

The investor added that Telegram might nonetheless select to launch in IPO in a bid to lift funds, repay its money owed to buyers – or problem non-voting shares to the ICO buyers, maybe returning to the venture in some kind and “kick Zuckerberg’s ass.”

The investor added that Durov wouldn’t “wish to go down in historical past as a person who mobilized tons of of hundreds of thousands of individuals for his venture, after which fled to his yacht as quickly because it got here underneath hearth.”

Nonetheless, Cherkashin admitted {that a} prolonged authorized battle might be forward for Durov and Telegram, writing,

“More than likely, there will likely be at the least a couple of buyers who wish to sue, and as quickly as they file the primary lawsuits, the remaining will catch up in order to not be overlooked. Blood-sucking attorneys are already blowing up buyers’ telephones in a bid to supply their companies. Within the occasion of a protracted and sophisticated go well with, solely the attorneys are set to win.”

Cherkashin additionally opined that Zuckerberg had basically pirated his thought for Libra from Durov’s TON plan. He said that the Fb chief was livid that his personal, American venture was being derailed whereas Durov’s Russia-based TON venture was being left to run unchecked – a undeniable fact that led him to berate American regulators on the matter.

This outburst, says Cherkashin, led the regulatory Securities and Exchanges Fee to start the authorized proceedings that ultimately derailed TON.


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