Venture capital firms invest $400M in TON blockchain
By March, Telegram had 1 billion monthly active users, while TON blockchain had 41 million native accounts.
Update (March 20 at 4:41 PM UTC): This article has been updated to clarify that the token sale was not directed at the TON Foundation.
The Open Network Foundation, also known as TON Foundation, said several venture capital firms invested more than $400 million in the TON blockchain, 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.
