Japan-based platform Liquid has announced that the long-awaited Telegram subscription has been canceled and all funds have been returned to shareholders.

Liquid platform stated that the reason behind the cancellation was:

When the Liquid platform was launched, the main Telegram Open Network (TON) was expected to be launched by October 31, 2019.

As most of the crypto community knows, the mainnet has yet to be launched.

It is worth noting that the subscription was launched last July, which was covered by the Arab Bitcoin website under the title:

Liquid platform reveals the IPO price of the Telegram (TON) cryptocurrency

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The platform stated that all the collected amounts will be returned and added:

Under the terms of the sale and terms of the Telegram IPO, Liquid will have to return all funds pledged to shareholders for not launching the mainnet by November 30, 2019.

The platform did not explain the results of the Telegram subscription via its platform, or the amount of money collected.

It is worth noting that the Telegram company recently stated that the digital currency has not been launched yet and that no one can buy or sell it and warned against cryptocurrency trading platforms that promote its sale.

Telegram also confirmed that the TON digital wallet will not be integrated with the Telegram messaging application, which caused a huge shock to TON cryptocurrency investors.

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