Coinbase Ventures Makes Bold Move: Acquires Toncoin Directly from Telegram to Fuel TON Blockchain Growth
Coinbase Ventures just placed a big bet on TON’s future—snagging Toncoin straight from Telegram’s coffers. Here’s why this deal matters.
Strategic Power Play: By cutting out intermediaries, Coinbase Ventures signals strong confidence in TON’s tech—and its potential to disrupt.
The Telegram Factor: Messaging giants aren’t just for memes anymore. With 500M+ users, Telegram’s ecosystem could turbocharge Toncoin adoption.
Crypto’s Open Secret: VCs love a good narrative—especially when it involves ‘partnerships’ that smell like backroom handshakes. But hey, at least the checks cleared.
Bottom line: When heavyweights like Coinbase dive in, the market pays attention. Whether TON delivers? That’s the billion-coin question.
Coinbase Ventures buys tokens directly from Telegram
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.
A Coinbase Ventures spokesperson confirmed the investment but declined to share further details. They said it was a long-term venture investment in TON and explained that token acquisitions are a common way for venture firms to back blockchain projects in their early or growth phases. According to them, tokens serve both as an investment asset and a stake in the network’s expansion, helping to align investor incentives with the project’s success.
By entering through a direct purchase from Telegram, Coinbase Ventures gains a position in Toncoin and a symbolic link to the platform’s web3 ambitions. The transaction signals confidence in TON’s ability to bridge mainstream social networking with blockchain-based services — from payments and decentralized apps to digital identity.
Although financial terms remain undisclosed, analysts suggest that Coinbase’s move could pave the way for deeper U.S. institutional participation in TON, especially if the network continues to integrate seamlessly with Telegram’s one billion-plus monthly active users.
Institutional faith grows in TON
The TON Foundation’s Monday announcement highlighted other major backers, including Sequoia Capital, Benchmark, and Ribbit Capital. Past reports also point to Pantera Capital, Ryze Labs, and Animoca Brands as significant investors. These firms have poured hundreds of millions of dollars into the project.
One of TON’s biggest draws for institutional investors is its exclusive integration with Telegram. With the messaging app’s global reach, TON has a ready-made user base and built-in distribution channel. However, some investors, like Animoca Brands co-founder Yat Siu, have noted that this scale also creates dependency risks if Telegram’s priorities shift.
Recent months have brought a string of large TON-related announcements. Last week, Nasdaq-listed Verb Technology said it was partnering with Kingsway Capital on a $558 million private placement, positioning itself as the first publicly traded firm to hold Toncoin as its main reserve asset. The company plans to rebrand as TON Strategy Co.
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