Woody Levin left his gig as vice president at software company DocuSign in early February to start a crypto hedge fund. As a full-time cryptocurrency investor, he now has one primary source of information: Telegram.
With close to 200 million users worldwide, the Russian-created secure messaging service Telegram has become the universal communications hub for crypto enthusiasts like Levin, whether for sharing news and tips or marketing a token sale for a new niche project.
"Telegram is my crypto world," said Levin, whose San Francisco-based firm has about $25 million in assets. He used to have Facebook open constantly in a tab on his web browser and would check it periodically throughout the day. Telegram has replaced it.
"It's one of the first things I check in the morning and one of the last things I do at night."
After serving as the communication platform for token sales and ICOs, Telegram is now gearing up to take full advantage of its popularity in the crypto world. The company is planning a 2018 ICO that may be almost 10 times the size of the biggest crypto deal to date. Investors who follow the deal tell CNBC that it's aiming to raise up to $2 billion.