TON, a Web3 ecosystem in Telegram, Raise over $400M in $TON from Top VC’s

March 21, 2025

The Open Network Foundation (TON Foundation) has confirmed that multiple venture capital firms, including Sequoia Capital, Ribbit, Benchmark, and Kingsway, have acquired more than $400 million worth of Toncoin. This investment, structured as direct purchases of the cryptocurrency rather than equity or cash infusions, highlights institutional interest in TON's blockchain ecosystem, which powers a range of applications integrated within Telegram’s messaging platform.

Originally launched as Telegram’s blockchain project, TON has since developed into a decentralized network supporting financial transactions, gaming, and other digital applications. The foundation reports that the blockchain currently has over 40 million active users, with 121 million unique Toncoin holders. Interest in the ecosystem has been growing, with firms such as Pantera Capital and Animoca Brands previously making strategic Toncoin acquisitions.

Toncoin continues to maintain a strong market presence, currently trading at approximately $3.75 per token, with a market capitalization exceeding $9 billion. Despite fluctuations from its mid-2024 peak of over $8.00, it remains a significant player in the crypto landscape. Adoption surged in the past year following the rise of blockchain-integrated mini apps such as Notcoin and Hamster Kombat, which expanded Telegram's crypto-related engagement. The latest investment reflects ongoing confidence in TON's role within Telegram's network and its potential for further growth.

About TON Foundation

The Open Network Foundation (TON Foundation) is responsible for the development and advancement of the TON blockchain. Created by Telegram, the blockchain has transitioned into a decentralized ecosystem facilitating payments, financial services, and digital applications within Telegram’s infrastructure.

Website: https://ton.org/

X:  @ton_blockchain

About Investors

Sequoia Capital 

Sequoia Capital is a venture capital firm based in Menlo Park, California, Sequoia Capital has a history of investing in technology startups, including Apple, Google, and Coinbase.

Location: Menlo Park, CA

Website: https://www.sequoiacap.com/

Ribbit Capital

Ribbit Capital is a fintech-focused investment firm headquartered in Palo Alto, California, Ribbit Capital backs financial technology and blockchain-related companies.

Location: Palo Alto, CA

Website: https://ribbitcap.com/

Benchmark

Benchmark is a Silicon Valley venture capital firm known for early-stage investments in technology companies such as Twitter, Uber, and eBay.

Location: San Francisco, CA

Website: https://benchmark.com/ A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.