Pantera Capital Invests in TON, Banking on Telegram's Web3 Potential

Pantera Capital has recently made an undisclosed investment in The Open Network (TON), citing its connection to the popular messaging service Telegram as a significant factor. With Telegram's decision to incorporate TON in April, Pantera sees immense potential for TON to become a major player in the crypto space, given Telegram's vast user base of 900 million monthly users and its alignment with Web3 principles. Pantera praised TON's blockchain architecture for its performance and scalability, comparing favourably to other leading blockchains, and highlighted the utility of its wallet interface. Additionally, Pantera emphasised the opportunities presented by TON for mini-apps on Telegram, enabling functionalities like trading cryptocurrencies and stocks directly within the messaging platform. The integration of TON with Telegram marks a significant achievement, especially considering regulatory challenges faced by other platforms like Meta's Libra coin. Pantera Capital, with $5.2 billion in assets under management across four funds, announced the formation of a new $1 billion fund in April, indicating its continued bullishness on the crypto market.