A man is seen as a silhouette as he checks a mobile device whilst standing against an illuminated wall bearing Telegram’s logo in this arranged photograph in London, U.K. (Photographer: Chris Ratcliffe/Bloomberg)  

Is Telegram's ICO Overvalued? Here's One Way to Figure It Out

(Bloomberg) -- Messaging app Telegram is finishing up the biggest digital token sale in history, hoping to raise $2.55 billion. Valuing it requires unusual computational gymnastics like pondering i...

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