In 2017, Telegram announced plans for its own cryptocurrency, Gram, and it even raised close to USD 1.7 billion from investors. The company was supposed to do an Initial Coin Offering in mid-2018 but backed out for unknown reasons.
Telegram’s intent is to launch the Gram by 31 October 2019 or else it will lose USD 1.7 billion worth investments. Gram’s value will be vulnerable to wild swings similar to Bitcoins – Bitcoin managed to peak in late December 2017 up to USD 19,783, but crashed down by 45% in less than a month, below USD 11,000 per Bitcoin unit.
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