TON Foundation aims to raise 400 million USD: Big ambitions with Toncoin amid the crypto investment frenzy

TON Foundation is partnering with Kingsway Capital Partners to raise up to 400 million USD, to establish a private investment fund for Toncoin ($TON ) – the coin of the Telegram ecosystem. This plan is being implemented under the PIPE model (Private Investment in Public Equity), similar to many other public companies that have raised crypto investment funds.

Notably, Mr. Manuel Stotz, Chairman of Kingsway, is also serving as the Chairman of #TONFoundation , indicating a strategic link between the participating parties. Additionally, there is support from Cohen & Co. (banking advisor) and Cantor Fitzgerald – an organization that is custodian for US Treasury bills for Tether.

This move comes amidst Telegram's efforts to expand in the US market, after the country has issued a new legal framework for stablecoin GENIUS. Telegram has also launched a custodial-free crypto wallet here.

Despite high expectations similar to those of companies that invested in Bitcoin since 2020 (like Strategy), this news has not yet had a positive effect on the price of TON, which has decreased by 4.5% in the past 24 hours. However, in the long term, the strong participation of large funds could be the necessary boost for Toncoin's price increase.

Crypto is a highly volatile market. This article is not investment advice. You should carefully consider before making any decisions.