Silicon Valley investors line up to back Telegram ICO

What happens when cryptomania invades venture capitalism? Some of Silicon Valley’s leading investors are lining up to buy into a much-hyped initial coin offering by Telegram, the encrypted messaging service that is seeking $1.2bn to build a virtual economy within its app. Ravi Mattu asks the FT's Chloe Cornish and Jonathan Guthrie to explain why. 

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