Hacker News Reader

To take advantage of the ICO hype. Telegram could never have raised $1.7B in different, more traditional medium.

I dunno, someone like Softbank would have happily thrown that their way.

It's unlikely that one Ponzi scheme will invest into another.

Without any equity and preferred shares? no.

The point is that the investors could dump their tokens onto clueless FOMOers on public exchanges. That doesn't work with traditional equity investment (see WeWork IPO).

They already raised $1.7B (and spent a good chunk of it, $280M by Jan 31 2019, probably $0.5B by now). Those who gave them money need a grater fool to buy the tokens from them. Otherwise the fun cannot continue. Someone will have to pay.

> without having to exit to fiat

Last time I checked one cannot buy yachts and private jets for crypto.