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The TON Foundation revealed the investment on Monday in an announcement on X, and described it as a strong endorsement from one of the most prominent venture investors in the crypto industry.
The Foundation said it could not disclose Coinbase Ventures’ position size. Still, it noted that their support spoke volumes, emphasizing the symbolic importance of the firm’s involvement despite the lack of financial details.
Coinbase Ventures has added to a list of investors who bet that TON will bridge social media and mass blockchain adoption. The project is widely applicable due to its unique integration with the famous messaging app Telegram, which has more than 1 billion monthly active users globally.
Manuel Stotz, president of the TON Foundation and CEO of Kingsway Capital, said that Coinbase Ventures purchased the TON tokens directly from Telegram — the messaging giant behind the network’s core infrastructure. This direct acquisition bypassed secondary markets and intermediaries, underscoring the deal’s strategic nature.
Stotz did not reveal the size of the transaction or the date it was finalized, citing confidentiality agreements. However, industry watchers see the move as a deliberate alignment between one of the largest U.S. crypto investors and a blockchain project with one of the biggest built-in audiences in the world.
