FinTelegram News has been operating as a financial intelligence services provider and whistleblower platform operator since 2018. A significant part of the information about financial service providers, cybercrime, and scams for the FinTelegram News articles, reports, and research publications is provided by our strong whistleblower community. Now it’s time to go public and transform FinTelegram into a decentralized company with a distributed ownership structure. We do this by tokenizing the company shares and let our whistleblowers and partners become owners.
The F42 token will be issued and maintained via our F42 Fund. Starting in July 2021, F42 tokens will be distributed to FinTelegram supporters, sponsors, and whistleblowers and make them stakeholders. The F42 token placement is not soliciting any funds from investors or consumers. The tokens are issued in exchange for information or support on an ongoing basis. However, institutional investors are offered to opportunity to buy the F42 token in exchange for FIAT or crypto. Any funds raised from institutional investors will be used to finance the FinTelegram Whistleblower Reward Program.
The F42 token explained
FinTelegram News and FinTelegram are the trading names of UK-registered FinTelegram Investors Protection Ltd, which has a share capital of 5,000,000 fully paid ordinary shares. The company is the issuer of 50,000,000 F42 tokens collateralized by and representing the 5 million shares as a proxy. For one ordinary share, the company issued 10 F42 tokens.
The 50,000,000 F42 tokens represent the tokenized shares of the company and thus are a proxy for the shares. With the tokenization of the shares, all rights associated with the shares are transferred to the F42 tokens. In this respect, the F42 tokens are proxies for the Shares. In addition, the F42 Token Holders can vote on the creation and publication of reports. One F42 token represents one share.
As a proxy for the company’s shares, F42 tokens represent all rights associated with the shares of FinTelegram Investor Protection Ltd in line with its Articles of Association. These include but are not limited to:
- Voting: all F42 tokens (or fraction of it) have voting rights in shareholder meetings;
- Dividends: the right to receive dividends and special dividends (in case dividends are paid)
F42 token holders are free to sell all or part of their tokens. There are no lock-up provisions or retention periods. The sale can either be organized privately by the F42 token holders or via the Company. After the targeted public listing of the F42 token on one or more crypto exchanges, the F42 token holders may sell their tokens through the exchanges.
By tokenizing the shares and the subsequent token placement, the currently private FinTelegram Investors Protection Ltd will become a public company with a global community of owners. In the F42 token placement, a significant percentage of the F42 tokens will be distributed to the “Whistleblower Reward Program” and thus made available as rewards for whistleblowers and contributors.
The token is currently a private token implemented on the Binance Smart Chain as a BETP20 token with the name “FinTok” and the symbol “F42.” The Company has plans to list the F42 token on one or more crypto exchanges to enable a secondary market for the F42 token trading.