Telegram refused to carry out planned before the initial sale of coins, and this is a good reason to talk about broader trends that can be observed in recent times.

Telegram – not the first who refuses to carry out the ICO, and they are unlikely to be the last.

This raises a few questions:
– How will develop methods of attracting investment for decentralized projects in the next few years?
– Who will benefit from the abolition of the ICO?
– How is it that Bitcoin and Ethereum, we have moved the ongoing discussion of legal and legislative norms?

I use Bitcoin because it is virtually impossible to centralized regulation. Anyone mined some BTC amount, no questions asked.
No climb check and block your account.

Funding Ethereum lay in a border region, but still inside the same philosophy – BTC per ETH, simply and directly, for the limited circle of those “in the know”.

Now, however, flared up this mania, with the closed pre-sales on tokens almost $ 2 billion.
This together with the crazy number of new ICO (most of which can be called questionable at best) has led us into a new era, in which we have to deal with the scrutiny of regulators.

And I’m bored.
I’m bored, because I see how startups have to spend six figures on lawyers instead of developing their product.
I’m bored, because I can see how accredited investors are cashing in on their status, having access to opportunities that other people.
And I’m bored because all the attention of regulators and the focus on the rule of law is essential, given the number of scams has attracted cryptosphere like a magnet.
We do no longer have access to classroom opportunities.

In particular, in the history of Telegram accredited investors who had access to closed sales is probably very happy. Because the company does not intend to sell tokens to a wide audience directly, thus it creates a large pent-up demand in the face of the us, raising the price of tokens involved and making a sealed presale investors, who are the only to meet this demand.

How it will look in the future?
Hard to say, but we believe that such a “normal” rounds of venture financing will become the norm to an even greater extent, public ICO conducted by honest projects, will be less, and the tokens will be traded on the exchanges directly with the company or its Treasury unit, or with several specially selected early investors acting as market makers.