TON Foundation raises $400M via token sale
By March, Telegram had 1 billion monthly active users, while TON blockchain had 41 million native accounts.
The Open Network Foundation, also known as TON Foundation, has raised more than $400 million in token-based investments from several venture capital firms, signaling growing interest in the Telegram messaging ecosystem.
Sequoia Capital, Ribbit, Benchmark, Draper Associates, Kingsway, Vy Capital, Libertus Capital, CoinFund, SkyBridge, Hypersphere and Karatage participated in the investment by purchasing Toncoin (TON), the native cryptocurrency of The Open Network.
TON Foundation described the token purchases as strategic partnerships that will help expand the TON ecosystem, though no further details were provided.
