Telegram-based TON Foundation raises over $400 million through token sale

PANews March 20th news, according to The Block, Telegram-based Open Network Foundation (TON Foundation) announced that venture capital companies such as Sequoia Capital, Ribbit, Benchmark and Kingsway have invested more than $400 million by purchasing Toncoin cryptocurrency. In addition, investors such as Vy Capital, Draper Associates and Libertus Capital also participated in this round of investment.

"These venture capital firms invest through Toncoin, not through traditional equity or cash methods," a TON Foundation spokesperson said. Over the past year, TON blockchain has more than 40 million active users, while Toncoin's "independent" holders have reached 121 million.