Compass Investments

– Backs current skepticism is an extension of his long-standing stance regarding Telegrams crypto initiatives. In his posts from January 2020 on what was then Twitter, during Durovs legal proceedings with U.S. regulators, Beck voiced similar critical remarks and openly called Telegrams first ICO a pure scam.

Beck stated that, unlike traditional venture capital investments, buyers of Gram tokens did not actually acquire any corporate rights or investment protections.

At the same time, Beck noted the inconsistency of the U.S. Securities and Exchange Commissions actions. He expressed the opinion that completely shutting down Durovs project while imposing a symbolic fine on the EOS blockchain seemed unfair and was akin to using a sledgehammer to crack a nut.

Following the SECs harsh measures, Durov was forced to abandon Gram, which led to the project continuing under the name Toncoin by independent developers.

Becks outburst coincided with the cryptocurrencys official rebranding, when the ticker for The Open Networks main token (TON) was officially renamed GRAM after 81.22% of community members voted to revert to the projects original 2018 name.”,”detected_source_language”:”RU