Toncoin TON Faces Volatility as Elon Musk Denies Telegram’s xAI Partnership Claims

Telegram’s proposed $300 million partnership with Elon Musk’s xAI has been thrown into doubt after Musk publicly contradicted CEO Pavel Durov’s announcement. The disagreement emerged just hours after Durov described an "in principle" agreement to integrate xAI’s Grok chatbot into Telegram’s platform, including revenue-sharing terms.

Market observers noted immediate volatility in Toncoin (TON), Telegram’s associated cryptocurrency, following the conflicting statements. The confusion comes amid Telegram’s broader $1.5 billion bond fundraising effort involving major institutional players like Citadel and BlackRock.

Durov had positioned the AI integration as a strategic MOVE following Telegram’s $540 million 2024 profit. The proposed features—including smart search and content moderation tools—now face uncertainty as both parties acknowledge no final contracts have been signed.