March 24, 2023

Deciphering the testimony of Pavel Durov on January 7 and 8 is available in the public domain

Telegram founder Pavel Durov testified about an alleged violation of the US Securities Act, related to the sale of Gram tokens. Fragments of the transcript of the court session, which lasted about 18 hours, are presented in the public domain.

According to the court, 7and on January 8, in the presence of a court clerk appointed by the court shorthand service with the participation of the US Securities and Exchange Commission (SEC). According to official documents, the interrogation of Durov was carried out in Dubai, where Telegram lawyer Alexander Drylevsky and SEC representative Jorge Tenreiro also attended.

The first part of the interrogation was conducted on January 7 from 11:21 to 22:00 local time, and the second part - January 8 from 10:23 to 18:09. The testimony was recorded on video, however, for reasons of confidentiality, only fragments of decryption are presented in the public domain.

SEC spokesperson questioned the managerTelegram about the costs and finances of the company. According to Durov, the company plans to spend money in the same way as in the last few years, but does not expect drastic changes before the launch of the TON platform. If TON is launched, therefore, the resource requirements for its development and testing will also be reduced.

To the question of Tenreiro, how many percent of 5 billionTokens will be allocated to Telegram employees after the launch of TON, Durov replied that the company will not hold Gram tokens, but will distribute 4% between the developers.

“I can once again confirm that Telegram is notwill store the Gram after launching the platform. As stated in our documentation, we plan to allocate 4% of tokens to the development team, which is about 200 million Gram. But given the current circumstances, we are still thinking whether we will adhere to the plan, ”said Pavel Durov at the hearing.

SEC also asked for remunerationdevelopers participating in the smart contract development competition, opened in September 2019. According to Durov, the prize budget has not yet been distributed, and Telegram still continues to attract specialists as part of this initiative.

This week it became known that the SECprovided evidence of the sale of Gram tokens after the completion of the ICO. Judging by the documents published by the SEC, two organizations issued Telegram invoices for commissions from the sale of tokens in the summer of 2018.