Telegram TOn ( Gram TOken) which raised huge amount in ICO as far i knew they raised 850 million in first round agian in second round also same even after this much fund raise . I don't see any progress . This kind of ICO's really ruining crypto funds . People are loosing belief on Crypto Currency .
If this is a bad capital call, I believe that the value of altcoins and even bitcoin is greatly reduced. Because when investors are held in capital, they will find ways to sell the coins to invest in another field or the project owner will sell the coins to do something different from the project plan.
In the crypto market, businesses that hold too much money will often cause bad things or will make the market grow strongly.
Anyway, wait for new news from TON.