Mike Novogratz talked about how his participation in the TON project failed

Mike Novogratz, the founder of the Galaxy Digital cryptocurrency trading bank, in an interview with The Block, shared the details of how he almost became an investor in the Telegram blockchain project.

“Initially, I was very doubtful. All my guys hated them. White paper was terrible, but at some point I woke up and thought about what I was talking about. This project is led by Pavel Durov himself, who is known throughout the world. What kind of white paper can we talk about? Who needs it at all, because it’s open source software. Immediately after these thoughts, I decided to call. We talked for a long time and after a certain time I said: “Listen, I know that the first round was closed, you sold tokens at 37 cents.” In the second round, Gram was selling at a quarter dollar. It seemed to me some kind of absurdity and I said: “How can this be, because your company costs four times as much.”

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Then the interviewer asked how Novogratz found out the contacts of the ICO TON organizers. After all, other investors also wanted to become participants in the campaign, but many remained out of work. To this question, the founder of Galaxy Digital answered the following: “They called me 15-20 times and tried to lure me into this venture. I constantly answered that my guys do not want to participate in this. “

After 3 weeks, Novograts still changed his mind and decided to enter the project, but it was too late. “When I turned to them, they answered me:“ Buddy, I can’t help you. ” I can’t say that I was very upset. I found the situation funny because I first encountered a denial. This indicates the growing cryptocurrency industry. Previously, you could even go into those projects that are already closed, because we have a big name. However, this time it was different. I was going to write a huge check from myself and a large investor, but that guy said that he could not accept more than the established limit. “I will gladly give you more in the second round,” he said.

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Novograts added that he would be happy to observe the development of TON, because enough time had already passed since the token sale and the market managed to experience a strong decline.

“I admire watching Telegram evolve because they have 280 million customers. It will be interesting to know what they will offer and how quickly people will begin to use it, ”said Novograts.