Toncoin (TON) Jumps 6% as BlackRock Eyes Telegram’s $1.5B Bond Offering
Toncoin (TON), the cryptocurrency linked to Telegram, surged 6.49% to $3.15 amid speculation that BlackRock may invest in the messaging platform’s $1.5 billion bond offering. The five-year bond, offering a 9% yield, has drawn institutional interest from firms like Mubadala and potentially Citadel.
Telegram’s financial growth continues as co-founder Pavel Durov announces the platform now has 15 million paying users—double last year’s count—with projected 2025 revenue of $2 billion. Bond proceeds will refinance existing debt, highlighting strategic financial planning.
Despite legal challenges—French prosecutors denied Durov’s U.S. travel request due to unresolved content moderation charges—the market remains bullish, with Toncoin’s market cap hitting $7.92 billion.
