Pavel Durov recently revealed that major Silicon Valley players have invested over $400 million into TON. The investment includes support from Sequoia, Benchmark, Ribbit, Draper, and VY Capital.
$400M in Silicon Valley Backing for TON
These funds not only provide capital but also serve as public endorsements for the blockchain project. Durov highlighted that this announcement marks a strong moment for TON.
He explained that the backing by well-known venture firms reflects deep trust in the network’s potential and future. The significant financial support also underlines the market’s faith in TON’s ability to scale globally.
TON’s Role in Telegram’s Ecosystem
Over the past year, TON has become a vital part of Telegram’s creator economy. The network serves as the exclusive withdrawal method for millions of content creators and mini-app developers.
TON is also the only way to pay for Telegram Ads in most countries. Every Telegram-related asset, from usernames to digital gifts, is traded as a TON-based NFT. Telegram Mini Apps, used by hundreds of millions of users, can only operate using TON.
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This system has fueled an explosion in volume within Telegram’s in-app economy, proving the network’s practical value.
Telegram’s Financial Milestone
Telegram recently celebrated a significant milestone by surpassing $1 billion in total revenue in 2024. This achievement marked Telegram’s first profitable year since it began monetizing its platform three years ago.
The milestone highlights the strength of the platform as it balances user privacy with innovative monetization strategies. The financial success further solidifies Telegram’s reputation as a major player in the digital messaging space.
TON’s Expansion and Future Prospects
TON is preparing to expand in the United States amid expectations of a favorable regulatory environment. The potential for growth in the US is seen as an important opportunity for the network.
Supporters believe that improved regulations will attract more developers and investors to TON. Durov emphasized that this expansion could open new markets and strengthen the network’s position. The plans for US growth are a sign that the project is aiming to compete on a global scale.
Legal Troubles for Durov
In parallel with the TON success, Pavel Durov has faced serious legal challenges. A French court recently allowed him to leave France temporarily for Dubai after his arrest in August 2024.
Durov faces allegations of negligence and complicity in several serious crimes during the investigation. The charges include money laundering, narcotics trafficking, and other crimes that could lead to a lengthy prison sentence.
His legal issues raise questions about developer responsibility for cryptographic platforms and the tools they create. This case has stirred discussion in the crypto community regarding accountability and ethical practices.
The recent developments around TON and Durov illustrate both the promise and challenges in the crypto space. The strong venture capital support signals confidence in TON’s ability to transform digital payments and financial systems.
Also Read: Telegram Backed $TON Unveils Ambitious Stablecoin Vision, Aims $10B in Market Cap