Telegram’s Rollercoaster Ride with Blockchain

Back in 2018, when the world was just starting to absorb the idea of decentralized internet freedoms, Telegram shook hands with innovation by introducing the Telegram Open Network (TON). But, alas, the joyride hit a speed bump thanks to some caustic legal entanglements with the U.S. Securities and Exchange Commission. After tossing around a hefty $1.7 billion in their initial coin offering (ICO), Telegram called it quits on this ambitious venture in May 2020, leaving many to perceive TON as another blockchain casualty.

From the Ashes Rises a Phoenix

Contrary to many skeptics, the TON project didn’t just roll over and die; instead, it came back swinging! Rebranded as The Open Network (TON) and with backing from an impressive $250 million ecosystem fund, TON is forging ahead. The fund has drawn investments from heavy hitters like Huobi Incubator, 3Commas Capital, and KuCoin Ventures, among others. According to Benjamin Rameau, managing partner of TONcoin.fund,