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Reading: TON Coin Attracts Major Investments from Top Venture Capital Firms
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COINTURK NEWS > Altcoin News > TON Coin Attracts Major Investments from Top Venture Capital Firms
Altcoin News

TON Coin Attracts Major Investments from Top Venture Capital Firms

In Brief

  • TON Coin gains $400 million investment from several leading venture capital firms.

  • Active users on the network have surpassed 40 million in the past year.

  • Sequoia Capital expresses excitement over TON's potential with Telegram's support.

Fatih Uçar
Fatih Uçar 3 months ago
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The cryptocurrency project supported by Telegram made significant waves last year, experiencing considerable volatility. Although the hype peaked due to airdrops within the network, the inability to craft compelling narratives around the future of mini applications triggered a strong selling wave. Consequently, TON Coin faced a downturn as it confronted the reality of inflated application interaction data from airdrop hunters.

Latest News on TON Coin

TON Foundation announced today that a consortium of venture capital firms, including Sequoia Capital, Ribbit, Benchmark, and Kingsway, invested over $400 million in TON Coin. This investment was made through the acquisition of Toncoin, the native cryptocurrency of the TON blockchain, rather than traditional equity or cash.

“These venture capital firms invested over $400 million in Toncoin, the native cryptocurrency of the TON blockchain,” said a spokesperson from TON.

Last year, the number of active users on the network surpassed 40 million, with unique addresses nearing 121 million. Telegram’s support played a significant role in reaching a billion users. The enthusiasm brought by investors who profited from early airdrops must also be considered.

Sequoia Capital Partner Shaun Maguire commented, “The TON team is the best at the intersection of consumer product thinking and crypto infrastructure. When combined with Telegram’s global reach, we are very excited to see where they are headed.”

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Fatih Uçar 20 March, 2025 - 5:48 pm 20 March, 2025 - 5:48 pm
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