The Open Network (TON) Foundation has received a huge investment from top venture capital firms. Reportedly, Sequoia Capital, Ribbit, Benchmark, Kingsway, and other investors have invested over $400 million in Toncoin, the native cryptocurrency of the TON blockchain. Unlike traditional investments made in cash or equity, this funding came entirely in Toncoin. A spokesperson for the TON Foundation confirmed the news, highlighting the growing confidence in the blockchain’s future. Telegram’s Crypto Ecosystem Is Booming TON is the blockchain that powers mini apps within Telegram, one of the world’s largest messaging platforms. Its user base has skyrocketed in the past year, surpassing 40 million active users. Toncoin also has 121 million unique holders, showcasing its growing popularity. Shaun Maguire, a partner at Sequoia Capital, praised the TON team, calling them “the best in the world” at combining crypto with everyday products. He also pointed out Telegram’s massive potential, as it now has over 1 billion users. Other major investors, such as Vy Capital, Draper Associates, Libertus Capital, CoinFund, Hypersphere, SkyBridge, and Karatage, have also invested in TON. They believe the project will continue to grow and become even more connected to Telegram. Recently, CoinGlass data revealed that Toncoin open interest (OI) soared by 67%, reaching $169 million, as speculation intensified over Telegram founder Pavel Durov’s departure from France. Recently, CoinGlass data revealed that Toncoin open interest (OI) soared by 67%, reaching $169 million, as speculation intensified over Telegram founder Pavel Durov’s departure from France. Why VCs Are Betting on TON The TON blockchain’s deep connection to Telegram has made it an attractive investment. With a built-in audience of a billion users, TON has the potential to make crypto more mainstream. Venture capitalists have been buying Toncoin for some time. Last year, Pantera Capital made two separate investments in Toncoin, and Animoca Brands co-founder Yat Siu revealed that his company started accumulating TON when it was priced under $1. Toncoin peaked at over $8 in mid-2024 before dropping to its current price of about $3.75. Nevertheless, the digital token remains among the top 20 cryptocurrencies, with a market cap exceeding $9 billion. Mini Apps and Crypto Gaming Drive Adoption Interest in the TON blockchain skyrocketed last year, fueled by mini apps and viral clicker games like Notcoin and Hamster Kombat. These games introduced millions of users to the crypto world through Telegram, proving that TON’s ecosystem can drive real engagement. Last year, Bitget Wallet and Foresight Ventures injected a $20 million funding initiative to support the development of Telegram Mini Apps. This initiative is designed to provide financial and strategic backing for emerging projects within Telegram’s Mini App ecosystem. With major VCs backing the network and Telegram’s massive user base, TON is positioned to play a major role in the future of crypto. The post TON Foundation Bags $400M Funding From VCs: Details appeared first on TheCoinrise.com .
