TON Foundation raises $400M in token sale, aiming to onboard 30% of Telegram users to blockchain.

From Cointelegraph

March 20, 2025 12:08:27 pm:

TON Foundation has raised over $400 million in token-based investments from various venture capital firms, showing growing interest in the Telegram ecosystem. The investment was made by purchasing Toncoin, the native cryptocurrency of The Open Network. TON Foundation aims to onboard 30% of active Telegram users to the blockchain in the next three years. The TON blockchain has seen significant growth, with native accounts increasing from 4 million to 41 million. As of January, Toncoin is the only accepted crypto for app services on Telegram. Benchmark partner Peter Fenton predicts Telegram’s user base will exceed 1.5 billion by 2030.

Venture capital funding in blockchain projects is rising, signaling increased legitimacy in the industry. Simon Wu of Cathay Innovation states that crypto and blockchain projects are gaining traction, especially in financial sectors like asset management and tokenization. Crypto venture capital deals surpassed $1.1 billion in February, with a focus on business services and DeFi. There is growing interest in decentralized physical infrastructure networks and real-world assets among venture capitalists.

Read more at Cointelegraph: TON Foundation raises $400M via token sale