Pavel Durov Denies He’s Selling Telegram Following TON Failure

Pavel Durov, CEO of the popular encrypted messaging platform, Telegram, has denied reports that the firm is preparing to sell the company after the failure of Telegram’s blockchain project.

According to an Aug. 5 report by local tech publication iXBT, Russia’s internet company Mail.ru is one of the parties interested in acquiring Telegram. Another is an as yet unidentified Russian billionaire. The information was reportedly shared by Russia-based trader and analyst, Kirill Promzin. As reported by iXBT, Promzin predicted Bitcoin’s 2017 bull run back in 2012, even calling the asset’s eventual high of $20,000.

Shortly after the iXBT’s report was published, Telegram CEO provided an official statement regarding the United States’ move against Chinese TikTok. In an Aug. 4 Telegram post, Durov said that Telegram has “always declined offers” to sell Telegram’s operations in specific countries.

Durov added:

“We are not selling Telegram – neither in part, nor in full. This will always be our position.”

The news comes shortly after Telegram reportedly shut down the test network for the Telegram Open Network, or TON, on Aug. 1, 2020. The firm officially announced plans to discontinue support of the TON testnet in early July 2020.