Telegram to pay $625K in fees after dropping 'GRAM' ticker lawsuit
Telegram must pay $625,000 to Lantah LLC — a small crypto firm it sued in 2018 over using the ‘GRAM’ trademark and ticker. Telegram Messenger Inc. has been ordered to pay nearly $625,000 worth of legal fees to a small cryptocurrency firm that it sued over using the ‘GRAM’ crypto-ticker and trademark.In a Nov. 2 ruling, U.S District Judge Charles Breyer granted $618,240 in attorney’s fees for 1,030.4 hours work billed at $600 per hour. Lantah had requested compensation at a rate of $900 per hour, but the judge reduced the fees to meet the market rate for the services.Lantah was also awarded....
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Telegram's TON saga seems far from over, as a disgruntled investor seeks compensation. Da Vinci Capital, a major investor in Telegram’s $1.7 billion initial coin offering, has reportedly requested compensation for the failed launch of the Telegram Open Network, or TON.Investors at Da Vinci Capital reportedly sent a letter before claim to Telegram CEO Pavel Durov, stating that the fund is planning legal action against TON Inc. and Telegram, Forbes Russia reports Monday.Citing anonymous sources close to Da Vinci, the report states that the fund has demanded $100 million incompensation from....
The TON blockchain created by Telegram co-founder and CEO Pavel Durov is promising big things will happen this year, setting itself a goal that no other blockchain has yet been able to achieve – it’s aiming for nothing less than mass adoption. TON was created by Durov and his brother Nikolai back in 2017. It’s one of the most ambitious blockchain projects of all and all the more so when we consider its tumultuous past. Designed to be vastly superior to Bitcoin and Ethereum in terms of speed and scalability, TON got off to a good start, raising almost $1.7 billion from investors....
Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized fees have slid below $4 per transaction. Moreover, layer two (L2) transaction fees have also dropped in recent times as the lowest L2 rate today is $0.03 per transfer.
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From mid-March up until the first week of April, Ethereum’s average network fees rose from a low of $5.98 per transfer to $43.41 on....
The legal battle between the U.S. SEC and Telegram could be a strong warning against the SAFT process. Telegram is a popular, global, cloud-based instant messaging, videotelephone and voice-over service company. Particularly popular with crypto-enthusiasts, at the end of 2017, Telegram came up with a plan to raise funds to support the development of a new crypto asset, dubbed Gram, and a network originally planned as the Telegraph Open Network. Proceeds would also fund further expansion of the messaging service that had previously been funded by the founders.Telegram set out to fundraise....
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