Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

TON Foundation clarifies $400M fundraising reports, says it is TON held by US-based VCs

Source Cryptopolitan

A day ago, several reports claimed that TON had secured $400M in funding from elite VCs, sparking a potential strategic pivot in the L1 race. Various accounts on X, formerly Twitter, shared the news after misunderstanding a previous post by the TON Foundation X account.

The post created a false impression that sent the TON token surging by about 8% before it stabilized. The news has now been debunked by the TON official X page, which provided clarification earlier today.

pic.twitter.com/FKVPbwgb9c

— TON 💎 (@ton_blockchain) March 21, 2025

TON clears the air

According to TON’s X page, the reports from some news outlets claiming the TON Foundation “raised” $400 million is untrue.

Contrary to reports from some news outlets, TON Foundation has not "raised" $400 million. Instead, the Foundation has disclosed that over $400 million in Toncoin is held by some of the world’s most forward-thinking US-based venture capital firms.

— TON 💎 (@ton_blockchain) March 21, 2025

“Instead, the Foundation has disclosed that over $400 million in Toncoin is held by some of the world’s most forward-thinking US-based venture capital firms,” the statement read.

The fact that Toncoin is being held in massive amounts by forward-thinking VC firms in the US is in itself a flex for the project, reflecting investor confidence in the ecosystem. However, it’s not the same as direct fundraising.

In the comment section of TON’s clarification post, many users praised the team for ending the confusion, while others reaffirmed their bullish sentiments, making it clear the little misunderstanding has not changed how they feel about Toncoin.

Of course, there were also some who wanted to know who planted the rumor in the first place and also those who suspected foul play, as the clarification came about a day after the news had spread and caused a brief price surge for the TON token.

One user implied the rumor was planted to “hype” things up, while another implied that they waited for some time to retract the rumor so the token could pump.

Whether this is true or not is up for speculation, but it is true that the TON token pumped almost 8% as a result of the VC investment rumors. At the time of this writing, the confusion has cleared up, and TON’s price is now worth $3.61, having fallen by 2.5% over the past 24 hours.

The fundraising confusion came days after Pavel Durov left France

The confusion regarding TON receiving millions in funding from VCs comes days after Pavel Durov, the founder and CEO of the social messaging app Telegram, was allowed to fly home to Dubai.

Telegram's founder Pavel Durov shared a picture he claims is the new photo on his passport — Telegram’s founder Pavel Durov shared a picture he claims is the new photo on his passport. Source: Pavel Durov (X/Twitter)

The privilege does not mean he is free of all charges as the French authorities continue their unprecedented case against him.

Durov was arrested in August after he was accused of not doing enough to properly moderate his app to curb criminality, even though Telegram has previously denied having insufficient moderation.

The tech billionaire has denied not cooperating with law enforcement over drug trafficking, child sexual abuse content and fraud. The case has attracted a lot of attention as it marks the first time a tech leader has been arrested for the lawlessness taking place on their platform.

In a post on his Telegram channel, Durov expressed happiness to finally be home, but clarified that the “process is ongoing.”

He also thanked the French judges for letting him go home and praised his lawyers for their “relentless efforts in demonstrating that, when it comes to moderation, cooperation, and fighting crime, for years Telegram not only met but exceeded its legal obligations.”

His arrest happened in August 2024 as he arrived in Paris on his private jet, and French judges initially banned him from leaving France.

As for the conditions of his release, all we have to go on is what the office of the Paris prosecutor told the BBC on Monday, which is that “the obligations of judicial supervision” had been suspended between 15 March and 7 April.

Durov, who was born in Russia, resides in Dubai. He also has residences in France, the United Arab Emirates and the Caribbean island nation of St Kitts and Nevis.

Since his arrest, Telegram has significantly altered the way it operates to deal with allegations that have dubbed it a portable version of the dark web.

It has joined the Internet Watch Foundation program, which aims to help find, remove and report child sexual abuse material being shared online.

According to an announcement from the app, it will also disclose the IP addresses/phone numbers of those who violate its rules and hand them over to police in response to valid legal requests.

Telegram has also published transparency reports about how much content is taken down – a standard industry practice it previously refused to comply with.

A Telegram spokesperson has said the company now actively moderates its platform to get rid of harmful content each day. However, despite their best efforts, criminal activity persists and will probably continue until harsher measures are considered.

Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Bitcoin falls below $75,000 as the CLARITY Act fails in the Senate — what the vote means for crypto The US Senate blocked the Digital Asset Market CLARITY Act in a 49-50 procedural vote, sending Bitcoin briefly below $75,000 — its biggest one-day drop since June. Ethereum fell more than 8%, Coinbase slid 10% and $75 billion of crypto market value evaporated. Here is what the vote was, why it failed, and the levels that matter now.

Author Suzie

Sep 16, Wed

The US Senate blocked the Digital Asset Market CLARITY Act in a 49-50 procedural vote, sending Bitcoin briefly below $75,000 — its biggest one-day drop since June. Ethereum fell more than 8%, Coinbase slid 10% and $75 billion of crypto market value evaporated. Here is what the vote was, why it failed, and the levels that matter now.

Dollar index tops 100 for the first time since July as the Fed's hawkish dot plot sinks in The U.S. dollar index broke back above 100 for the first time since 31 July after the Fed delivered its first rate hike since 2023, with the dot plot showing 16 of 18 officials expect at least one more increase this year. Here are the levels that matter for DXY, the currencies feeling it most, and what to watch next.

Author Irene Q.

Sep 17, Thu

The U.S. dollar index broke back above 100 for the first time since 31 July after the Fed delivered its first rate hike since 2023, with the dot plot showing 16 of 18 officials expect at least one more increase this year. Here are the levels that matter for DXY, the currencies feeling it most, and what to watch next.

Gold ends three-week slide at the $4,400 line — eight straight days of ETF inflows vs a 5% 10-year and a 100 dollar Spot gold closed Friday at $4,378.39, up 0.84% on the day and about 0.8% for the week — its first weekly gain in four weeks — with the intraday high of $4,399.67 leaving it 33 cents shy of the $4,400 line. Gold ETFs have now logged eight straight sessions of inflows, but with the 10-year back above 5% and the dollar index near 100, here is what decides whether this is a reversal or a bounce.

Author Suzie

Yesterday 05: 53

Spot gold closed Friday at $4,378.39, up 0.84% on the day and about 0.8% for the week — its first weekly gain in four weeks — with the intraday high of $4,399.67 leaving it 33 cents shy of the $4,400 line. Gold ETFs have now logged eight straight sessions of inflows, but with the 10-year back above 5% and the dollar index near 100, here is what decides whether this is a reversal or a bounce.

Bitcoin squeezes back above $80,000 — 110,000 traders liquidated as the hawkish Fed and CLARITY setback fail to hold it down; is $83,000 next?Bitcoin closed above $80,000 on Friday for the first time since September 7, and pushed to $81,299 over the weekend, triggering about $603 million of liquidations — $523 million of them shorts — across more than 110,000 traders. With the Fed's hike already priced and the SEC and CFTC advancing crypto rules after the CLARITY Act failed, here is what stands between BTC and the $83,000 gate.

Author Suzie

Yesterday 06: 19

Bitcoin closed above $80,000 on Friday for the first time since September 7, and pushed to $81,299 over the weekend, triggering about $603 million of liquidations — $523 million of them shorts — across more than 110,000 traders. With the Fed's hike already priced and the SEC and CFTC advancing crypto rules after the CLARITY Act failed, here is what stands between BTC and the $83,000 gate.

Brent slides below $102 after Houthis' first strike on Riyadh — why oil can't hold $100 Houthi forces struck Riyadh for the first time on September 19 and hit Yanbu facilities — yet Brent opened at $104.71, peaked at $104.90 and settled at $101.68 (-1.63% on the day). Here is the four-way data tug-of-war between strike escalation and supply recovery, and the two switches that decide where oil goes next.

Author Irene Q.

11 hours ago

Houthi forces struck Riyadh for the first time on September 19 and hit Yanbu facilities — yet Brent opened at $104.71, peaked at $104.90 and settled at $101.68 (-1.63% on the day). Here is the four-way data tug-of-war between strike escalation and supply recovery, and the two switches that decide where oil goes next.

Popular Symbols