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Chinese Company The9 Said to Be First Foreign Telegram ICO Investor

Published 07/24/2019, 06:40 PM
Updated 07/24/2019, 07:01 PM
Chinese Company The9 Said to Be First Foreign Telegram ICO Investor

According to a filing with the United States Securities and Exchange Commission, the Chinese company The9 Ltd bought 5,297,257 tokens during a Telegram initial token offering in January 2018 for $2 million dollars. The filing also states that The9 has invested in multiple blockchain-based companies as of 2018.

According to a report by Russian business news agency RBC on July 24, this document is evidence of The9 as the first publicly-known foreign investor. Per RBC, Telegram’s initial coin offering (ICO) investors are largely unknown.

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