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August 2017

Telegram ICO Investors Included Russian Oligarch and Ex-Minister



Newly released documents relating to Telegram’s 2018 ICO have revealed some big-name backers, including Russian oil tycoon Roman Abramovich and former Minister of Open Government Affairs Mikhail Abyzov.

The publication of the documents highlighting some of the big-money backers in Telegram’s planned blockchain, Telegram Open Network (TON), is just the latest development in the US Securities and Exchange Commission (SEC) case against the firm, which claims the messaging app violated securities laws by failing to register its 2018 token sale. The names and the amount that they invested were listed in an expert report by Stephen McKeon, a University of Oregon professor who was hired by Telegram to write an analysis on the blockchain project.

Russian oil billionaire Roman Abramovich, who is best known as the owner of Premier League outfit Chelsea FC, invested US$10 million in Telegram during the second round of fundraising. He made the investment via a British Virgin Islands-based fund called Norma Investments Limited.

Another British Virgin Islands-based fund, Batios Holdings Limited, of which Mikhail Abyzov is a director, also invested in the Telegram ICO. Abyzov is currently incarcerated after Russian law enforcement brought an embezzlement case against him in 2018 after his position at Batios was uncovered, thus ending his political career. Jan Marsalek, Chief Operating Officer at German payments firm Wirecard, also invested US$7 million in the second round of the TON token sale.

>> BitGo Introduces Institutional Crypto Lending Service

Telegram met with the SEC in court on February 19 after months of back and forth between the two parties. In that meeting, the presiding judge urged both parties to consider the “economic realities” of the US$1.7 billion token sale and pledged to make a ruling on the case by April 30—the deadline for the launch of TON as agreed upon by investors back in October. Until then, Telegram is free to continue developing TON.

Featured image: DepositPhotos © prykhodov

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Ethereum Price Jumps 8% | CTFC Approving Futures Trading Soon?



Ethereum is now firmly established as the cryptocurrency with the second biggest market cap after Bitcoin, and more good news could be on the way for the coin if recent reports regarding CTFC approval of Ethereum futures are to be believed.

According to a report from Coindesk, the United States Commodity Futures Trading Commission could be all set to approve it, provided Ethereum passes the commission’s stringent tests. Needless to say, it would be a significant development for the cryptocurrency if it eventually comes to pass.

ETH is up by 8% at the time of writing.


The main target of many cryptocurrencies is often to get mainstream legitimacy, and it is no different when it comes to Ethereum. This is a particularly significant development since it opens up the field for large institutional investors to get into Ethereum in a big way. If the approval is actually granted, then there is every chance of Ethereum carving out a much bigger niche for itself in the crypto market at large.

For many years, institutional investors have not been comfortable with investing in cryptocurrencies, since crypto exchanges do not provide the sort of security that they look for. Plenty of cryptocurrency exchanges have been attacked, and investors have lost millions over the years. For institutions to invest large sums of money, secure channels need to be available, and the approval of Ethereum futures could be just the instrument to provide this.

>> Pepsi Blockchain Trial a Success: Company Plans to Conduct More Soon

Strong Possibility of Approval

According to an official at the CTFC, there is a definite possibility of Ethereum futures being approved. The anonymous sources stated that once the application comes through to the CTFC, the body reviews the application and, if the requirements are met, permission is granted.

The source went on to state that there is a very high possibility of Ethereum being granted this permission since the CTFC is comfortable with that particular coin. It is important to note that Bitcoin futures have been in circulation since 2017 and with the crypto market rising again, it could be just the right time to introduce Ethereum futures.

Featured image: DepositPhotos © yuliang11

Coinbase UK Drops Support for Zcash



It has yet to be disclosed as to why, but the UK arm of Coinbase is dropping support for Zcash (ZEC) cryptocurrency.

The move has, understandably, rattled Zcash investors.

Coinbase Drops Support for Zcash

According to customers of Coinbase UK, the exchange is sending out letters telling traders to convert their ZEC holdings by August 26. Alternatively, traders are encouraged to export their coins to an external wallet. If they fail to do so, their ZEC balance will automatically convert to British pound sterling in their user accounts.

As stated, the crypto platform gave no reason for dropping the coin, but as a privacy-focused cryptocurrency, Zcash could be a preferable choice for criminals. This is simply one of many theories already posed by head-scratching traders.

The coin’s developer, The Electric Coin Company, confirmed the news on Friday. It said the following in a tweet:

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uBUCK Technologies Announces Strategic Partnership With U.S. Prepaid Platform PreWay uBUCK Technologies Announces Strategic Partnership With U.S. Prepaid Platform PreWay


VANCOUVER, British Columbia, May 10, 2019 (GLOBE NEWSWIRE) — LiteLink Technologies Inc. (“LiteLink”) (CSE:LLT)(FRA:C0B:FF) is excited to announce that, through its wholly-owned subsidiary uBUCK Technologies SEZC (“uBUCK”), it has entered into a strategic definitive agreement with U.S. prepaid platform, PreWay DBA UGO Hub.

uBUCK Pay, the ultimate digital wallet, allows customers to make online purchases at supported merchant stores, bars and restaurants, cash withdrawals at ATMs and send transfers around the globe without any transfer fees. At present, to obtain uBUCK vouchers, customers must log into their uBUCK Pay app to purchase pin vouchers using a credit card and then they may redeem their vouchers to convert it to uBUCK cash.

This partnership with PreWay will offer a distribution method that is unique in the digital payment space and allows uBUCK to serve the underbanked community in North America by giving users the option to purchase uBUCK vouchers in cash at nearly 7,000 convenience stores across the U.S. The deal will also give uBUCK customers access to discounted top-tier brand gift cards that can be purchased through the uBUCK app.

uBUCK offers a payment alternative for the unbanked and underbanked community. 32.6 million Americans and close to 6 million Canadians fall in this category. uBUCK is planning on rolling its service out to Southeast Asia, with only 47% of the population having a bank account and in the Philippines where it has 77% of the population unbanked according to a recent survey by BSP.

“uBUCK is committed to serving the unbanked and underbanked community in starting with North America, said uBUCK president and CEO James Youn. “uBUCK Tech is democratizing the financial system by having the uBUCK pin vouchers available at your local convenience store in addition to buying it from the uBUCK App directly.”

Customers will be able to purchase uBUCK pin vouchers with cash, credit or debit cards. uBUCK cash can be sent anywhere in the world within the uBUCK platform with no transfer fees. The receiver of those uBUCK cash tokens can be used to load a debit card and spend it just as they would any credit card or make a withdrawal at any ATM around the world.

“PreWay looks to market this product to its client base of convenience stores and other resellers as a product that will enhance door swings for the convenience store and having them on the platform serves the public with an option not currently being addressed by the competition,”

said Rodger Kean, VP Sales & Marketing at PreWay Prepaid.

About LiteLink Technologies Inc.

LiteLink Technologies Inc. (CSE:LLT)(FRA:C0B:FF) is a major player in developing world-class enterprise platforms that utilize artificial intelligence, blockchain, and predictive analytics to solve fragmented and outdated technology problems in the logistics and digital payment industries. Our flagship 1SHIFT logistics platform offers real-time transparency and tracking which allows brokers, shippers, and carriers to track shipments and settle payments in real-time. uBUCK Pay is a multi-currency digital wallet that supports traditional fiat and digital currencies. Consumers are able to make online and offline purchases using the uBUCK debit card and send funds worldwide for free.

About uBUCK Technologies SEZC

uBUCK Pay is a worldwide online payments platform and pin voucher solution that serves as a payment alternative for consumers and merchants. uBUCK Pay is a secure and fast method for making payments and transfers and serves as a digital alternative to traditional payment methods like checks, money orders and wire transfers.

About PreWay

W.L. Petrey Wholesale, established PreWay in 2004 to meet the rising demands of its customer base in the telecomm and prepaid industry. PreWay’s mission is to be a preferred solutions provider that delivers full-service advantage to both its merchants and business partners. PreWay is 100% committed to offering the best services and programs to all markets serviced. PreWay has a simple mission; we want to grow your sales by providing products and services that deliver you results. The diverse consumer-based product and financial services you’ll receive from PreWay is unmatched and will without a doubt, expand your business. PreWay’s proven track record speaks for itself, servicing close to 7,000 retail locations nationwide.

For more information about LiteLink Technologies Inc. (CSE:LLT)(FRA:C0B:FF), please visit If you would like to know more about the 1SHIFT logistics platform, please visit For details about uBUCK Pay, please visit

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