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$400 million investment in TON, the Toncoin VCs are going crazy
By Davide Grammatica
The Open Network Foundation has revealed a new $400 million investment from a well-known group of VCs, with a direct purchase in TON
Everyone's crazy about TON
A group of VCs, including Sequoia Capital, Ribbit, Benchmark and Kingsway, have reportedly invested over $400 million in TON with the direct purchase of the native token of the Open Network Foundation.
TON is famous for powering the crypto ecosystem that complements Telegram, which in turn became famous in 2024 for the popularity gained by a series of dApps and games that work on the messaging platform.
In just a few months, the number of active users of the TON blockchain has exceeded 40 million, with as many as 121 million “unique” Toncoin holders. Clearly, the companies in question saw potential in the project.
“These VCs have invested over $400 million in Toncoin, the native cryptocurrency of the TON blockchain,” said a spokesperson for the TON Foundation. ”The funding is provided in the form of Toncoin, not traditional shares.”
What seems to have convinced investors is TON’s ability to carve out a space between consumer products and crypto infrastructure. And all this, combined with Telegram’s reach, creates very interesting prospects.
💎TON Foundation recently disclosed over $400M in $TON held by top VCs, including @sequoia, @RibbitCapital, @benchmark, Kingsway, Vy Capital, @drapervc, Libertus Capital, @coinfund_io, @hypersphere_, @SkyBridge, and @Karatage_
Let’s welcome them to the ecosystem and read the… pic.twitter.com/7emJ6ARBbA
— TON 💎 (@ton_blockchain) March 20, 2025
Telegram's boost to the crypto ecosystem
Certainly, no one denies that interest derives precisely from the strong connection with the messaging app Telegram, as well as from the platform’s user base, which has reached over a billion users.
In the meantime, the token’s action has not undergone any particular shocks, but for about a week it seems to be reacting positively to the collapse of the crypto market at the end of Q1 2025. From a high of over $8 in mid-2024, TON plummeted to around $2.50, before returning in recent hours to around $3.75, with a capitalization of over $9 billion.
