Adam Back slams new GRAM token as 81 percent back vote

Adam Back, CEO of Blockstream and a prominent figure from Bitcoin’s earliest days, has taken public aim at the economic model of the GRAM token, a cryptocurrency long linked with Telegram. Back’s pointed criticism surfaced soon after Telegram founder Pavel Durov made fresh attacks on fiat currency systems, reigniting old debates within the crypto community.

Durov’s comments reignite debate

The controversy flared on the day The Open Network’s main token officially reclaimed its original GRAM name, an announcement that immediately sparked renewed discussion. On the same day, Pavel Durov issued a statement that criticized traditional monetary systems and praised Bitcoin’s approach. Durov emphasized that while governments can endlessly print money, Bitcoin’s supply cannot be expanded in the same way.

Highlighting the sharp difference, Durov argued that whereas governments continue to print money, there is no similar issuance mechanism for Bitcoin.

Adam Back offered a brief but barbed response to Durov’s message, drawing an implicit comparison to Durov’s own blockchain ecosystem and suggesting that the issuance of GRAM tokens faces some of the same questions. According to available information, Pavel Durov has yet to address Back’s critique.

Glossary: “Cypherpunk” describes a tech-focused movement advocating privacy, encryption, and individual freedoms. Adam Back is well known in this sphere for his work on Hashcash and his early contributions to Bitcoin’s development.

Adam Back’s longstanding concerns about Telegram

Back’s skepticism toward Telegram’s crypto ventures is nothing new. As far back as January 2020, he had publicly voiced reservations. During Durov’s legal battles with US regulators, Back criticized the initial sale of Telegram’s tokens, labeling it a troubling model for investors.

Back argued that purchasers of the Gram token lacked the usual institutional rights and protections that traditional venture capital investors expect.

Nevertheless, Back also noted inconsistencies in the approach of the US Securities and Exchange Commission (SEC). He observed that while Durov’s project was completely halted, EOS blockchain developers faced only limited sanctions—a contrast Back called unfair.

Return to GRAM name via community vote

Following intervention by the US SEC, Pavel Durov withdrew from the Gram project. Independent developers subsequently carried the initiative forward under the name Toncoin. In a recent development, a community vote led The Open Network’s main token to revert back to its original GRAM designation.

According to official results, 81.22 percent of participating community members supported the move to restore the 2018-era name. With the change, the principal token code across the TON ecosystem is once again officially GRAM.

Back’s recent criticism coincided directly with the announcement of this name change, suggesting his comments may target not only Durov’s remarks about fiat but also the revival of the GRAM brand itself.