Pantera Capital “Pours” Another $20 Million Into TON Blockchain

This is the result of Pantera Capital’s fundraising campaign that started in June through two separate funds.

According to a filing with the US Securities and Exchange Commission (SEC), the famous crypto investment fund Pantera Capital has raised $20 million to invest in The Open Network’s Toncoin (TON) cryptocurrency, a blockchain project associated with the Telegram messaging app.

The SEC filing revealed that Pantera Capital raised capital from at least 29 investment funds through two separate funds, with the first fundraising being made last July. Both funds were officially signed and approved on November 27. This is the result of Pantera Capital’s investment campaign that started in June with a minimum participation of $250,000.

Pantera Capital announced earlier in May that it had invested an undisclosed amount in TON, but claimed it was the largest investment in the fund's history. The Block reported at the time that Pantera had acquired a large amount of tokens at a discount to market prices, but with a long lockup period.

Pantera Capital's optimism about TON reflects the enthusiasm of many crypto investors in the current crypto market, despite the arrest of Telegram CEO Pavel Durov in August by French authorities on multiple charges of facilitating "flourishing" criminal activity on his messaging app, which caused the price of the TON token to plummet.

After a few days of "legal trouble", the CEO made statements that he would increase censorship of criminal content, but was also willing to leave countries that are not friendly to the law. Durov himself also believes in the decentralized nature of cryptocurrencies and has held Bitcoin for the past 10 years.

Durov has now been released on $5 million bail in France, but must remain in the country pending trial.

Thanks to the general recovery of the crypto market following Donald Trump's victory in the US presidential election, TON has almost recovered all the value it lost since Durov's arrest.

At the time of writing, TON is trading around $6.65, up nearly 20% from the price when Durov was arrested. In the last 24 hours, the cryptocurrency representing the blockchain The Open Network has also shown a 2% growth.