Crypto News- Former FTX Director, Sam Bankman-Fried, recently pitched a substantial deal involving Telegram TON tokens to a group of influential individuals while he was in the Middle East. This group, known as “hashtag meetings” or “hashtag groups,” consisted of around eight to ten prominent members. At the heart of Sam’s proposal was the idea of forging a partnership between FTX and Telegram.
Pitch for Telegram TON Tokens Deal Presented by Former FTX Engineering Director
In response to Sam’s proposition, the suggestion emerged that FTX could develop a payment-processing platform customized for Telegram in exchange for a generous allocation of TON tokens, potentially valued at hundreds of millions of dollars. This concept held promise, offering significant potential gains with minimal effort required to establish the payment service. However, it was explicitly stated that FTX would be required to invest $120 million as part of this arrangement.
Despite the promise, there were concerns within FTX regarding the Telegram TON token deal. When asked about their reaction to these developments, it was clear that many harbored reservations. The idea of acquiring additional, relatively illiquid tokens failed to generate enthusiasm, especially when the associated costs were expected to be absorbed by FTX’s customer base.
In light of these reservations, Sam and his colleague Ramnik addressed the larger group to express their unwavering commitment to proceed with the collaboration. They reassured the group that the decision should not burden them and clarified that the intention behind sharing the proposal was not to place responsibility on others. Sam made it unequivocal that, unless significant and entirely new objections emerged, the project would move forward as initially planned.
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