The American venture fund Pantera Capital announced that it has invested a record sum for the company in TON.
The exact amount of the investment remains undisclosed. However, several assumptions can be made:
- The fund has financed (albeit jointly) many industry heavyweights like Bakkt, Bitso, and Alchemy, which have previously raised between $250 million and $300 million;
- A similar amount was planned by the fund to acquire Solana (SOL) from FTX;
- Pantera recently announced raising $1 billion for a new structure.
Dan Morehead, CEO of Pantera Capital, mentioned having recently dined with Pavel Durov and being “captivated by the purity of his convictions.”
The investment giant explained its decision to invest in TON by the project’s potential to become one of the largest crypto networks.
“Thanks to its dynamic sharding mechanism, the TON blockchain can process millions of transactions per second and scale efficiently as the number of users grows,” stated a letter from Pantera Capital’s executives.
They also highlighted Telegram’s enormous potential for mass cryptocurrency adoption, pointing to the popularity of internal mini-apps like Notcoin, new earning methods, and USDT stablecoin payments based on TON.
In early May, Pantera Capital’s investment in TON came to light. At that time, developers also announced the platform’s integration with the on-chain analytics service Arkham Intelligence.