PANews reported on March 20 that according to The Block, the Telegram-based Open Network Foundation (TON Foundation) announced that venture capital firms such as Sequoia Capital, Ribbit, Benchmark and Kingsway have invested more than $400 million by purchasing Toncoin cryptocurrencies. Other investment institutions such as Vy Capital, Draper Associates, CoinFund, Hypersphere, etc. have also participated in Toncoin investment.
A spokesperson for the TON Foundation said: "These venture capital firms invest through Toncoin rather than traditional equity or cash methods." In the past year, the TON blockchain has more than 40 million active users, and the number of "independent" holders of Toncoin has reached 121 million.
