Musk Shuts Down Telegram-Grok Merger Rumors—Toncoin Tanks on Denial

Elon Musk just torched speculation about a Telegram-Grok AI partnership after Pavel Durov’s cryptic post sent Toncoin soaring. The crypto’s now in freefall—because nothing fuels volatility like billionaire Twitter drama.

Grok’s denial came hard and fast, leaving traders scrambling. Another day, another ‘buy the rumor, sell the news’ circus for crypto bagholders.

Funny how these ‘strategic partnerships’ always seem to vaporize *after* the pump. But hey, at least someone made fees on the trades.

Elon Musk Responds: ‘No Deal Has Been Signed’

Durov’s earlier post claimed the integration WOULD roll out this summer, bringing Grok’s AI capabilities to Telegram’s billion-plus users and strengthening the platform’s financial position. 

The announcement initially sparked excitement across the Toncoin (TON) community, driving the token up over 10% to $3.45. At 22:29 UTC, Musk responded directly on X: “No deal has been signed.” 

No deal has been signed

The price of TON quickly reversed course. Within 30 minutes, it fell sharply from $3.45 to $3.27. The 1-hour chart now shows a steep downturn, even as the token remains up 8% on the day. 

Without clarification from either party, the market could see further downside.

The conflicting messages have unsettled investors. While Telegram has yet to issue an official follow-up, the lack of alignment between the two tech leaders is raising concerns about credibility and communication breakdowns.

Toncoin, which is closely tied to Telegram’s blockchain ecosystem, often reacts to developments within the app. 

If the Grok integration does not materialize, some traders anticipate a larger correction as speculative interest unwinds.