TON Foundation Targets $400M Mega-Fundraise to Supercharge Toncoin Treasury
Blockchain's sleeping giant wakes up swinging.
The TON Foundation—Telegram's crypto offspring—just dropped a bombshell: a $400 million war chest to turbocharge its Toncoin ecosystem. No vague 'Web3 infrastructure' buzzwords here—this is a straight-up capital injection for their treasury arm.
Why This Matters
That $400M figure isn't some aspirational target—it's the starting gun for Toncoin's push into institutional crypto plays. Watch where the money flows: developer grants, exchange listings, or (more likely) lobbying budgets to cozy up to regulators.
The Fine Print
Zero details on valuation or investor lock-ups—classic crypto fundraising opacity. But with Telegram's 700M users as potential onboarding fuel, VCs are probably lining up like degenerate gamblers at a roulette table.
Bottom Line
Another nine-figure crypto round in a bear market? Either TON's playing 4D chess—or this is the last helicopter out of startup funding winter. Place your bets.
Structure and Leadership of New Firm
The new entity may utilize a Special Purpose Acquisition Company (SPAC) structure to go public, mirroring other crypto treasury firms. MicroStrategy’s stock surged 3,400% over five years by holding Bitcoin on its balance sheet, establishing the template for crypto treasury companies.
Kingsway Capital, led by Manuel Stotz, is expected to be one of the investors in the new company. Stotz is also the president of the TON Foundation, which has been working to expand the use of its blockchain platform, especially in the United States.
Cohen & Co. is reportedly advising on the formation of the new company. Cohen had earlier worked on a $1.5 billion deal involving a company focused on Ethereum. Cantor Fitzgerald, known for supporting similar crypto treasury companies, has also shown interest in Toncoin-related ventures, Bloomberg said.
Meanwhile, Toncoin’s price rose nearly 2% following the announcement before retreating to 0.8% gains. It is currently trading at $3.18, with a total market value of around $7.68 billion. However, its trading volume dropped 18% in 24 hours, as the crypto market faced pressure from Ethereum-related uncertainty.
TON Current Price | Source: CoinMarketCap
Toncoin, which was originally created by the founders of Telegram, now operates independently but still reacts to news involving the app and its CEO, Pavel Durov. According to CoinMarketCap, the token is currently ranked in the top 24 cryptocurrencies.
But despite all this attention, Toncoin’s price has dropped about 54% since the beginning of the year. Meanwhile, bitcoin has risen around 25% over the same period.
TON Foundation Controversies
The TON Foundation faced criticism earlier in 2025 after promoting a UAE Golden Visa program tied to Toncoin staking, which UAE officials later discredited, according to regional media reports. The organization has since clarified its position on such partnerships.
The crypto treasury company model continues gaining institutional traction as firms seek to replicate Bitcoin-focused success stories. The Toncoin initiative represents the latest attempt to apply this strategy to alternative cryptocurrencies beyond Bitcoin and Ethereum.
Current PIPE market conditions show institutional appetite for crypto exposure through public equity structures, though regulatory requirements vary significantly across jurisdictions.
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