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Telegram has made a significant announcement, unveiling a massive $500 million on-chain fund built on the TON blockchain. The initiative is primarily focused on enhancing its decentralized finance (DeFi) ecosystem and is backed by prominent venture capital firms, such as Sequoia and Ribbit.
It’s essential to note that this investment is not a fundraising round but rather an endorsement of the potential future success and utility of the TON blockchain, its growing ecosystem, and its ability to provide real-world applications for crypto holdings within Telegram.
Source: https://www.kanalcoin.com/telegram-500m-fund-ton-launch/
