Why TON Smells Like GRAM Again

Pavel Durov remains silent, yet people keep asking me about TON's future, as if I know 👋

But if you look closely, an interesting picture emerges.

TON Foundation is gradually being dismantled. There's information that the Swiss prosecutor's office is interested in the foundation's structure: a fictitious office, massive financial turnover for a non-profit, and suspicious activities 😳

This isn't the first warning sign. During the Open League era, TON Foundation freely distributed millions of TON for "activity," only to suddenly demand contracts and KYC from projects weeks later. It seems Swiss authorities quickly pointed out that such actions don't go unnoticed.

When the pressure became too intense, Manuel Stotz abruptly left for another company, leaving Max Crown to deal with the aftermath. But it seems there was little point in maintaining the structure, so together with Durov, they decided to gradually close the whole story.

The layoffs were telling. First, they removed the most public figures: Alena, Dima, Viktor. Next, likely, will be less visible employees. And remember, we're talking about hundreds of people.

If TON Foundation is under scrutiny, it's logical to assume The Open Platform (TOP) will be next. Things aren't perfect there either.

Recently, Wallet (TON Space) was renamed to Crypto Wallet, and today, to further confuse users, it's being renamed to DeFi Account. Here's an interesting twist.

Previously, TON Foundation paid Telegram hundreds of millions of dollars annually for Wallet placement and integration. But if TON Foundation no longer exists as a full-fledged structure, there's no one to pay. It feels like Telegram is gradually taking Wallet back.

Overall, if everything is reverting, TON might be turned into GRAM and achieve that native Telegram integration discussed years ago. Without intermediaries, foundations, or "independent" organizations.

But then the main question arises: who will manage all this? 🏥

Steve Yun has stepped away from TON. Ilya Perekopsky is busy elsewhere. Dmitry Eremeev likely doesn't want the headlines. Andrey Rogozov has enough projects - Tonkeeper, tonapi, Mira. Which public friends are left? Roxman vanished after the Major and Portals stories. From the old trusted team, almost no one remains. The only somewhat logical candidate is Anton Tsivarev, but his achievements aren't impressive. In three years as VP of Development at TON Foundation, nothing extraordinary was seen. At least he responded in chats, unlike Makosov and Emelyanenko 🤴

Oleg Seydak might return to the public eye (I haven't mentioned him before). He was the CEO of the Swiss company Gram Vault, which stored GRAM (TON) and was the only trading platform for selling not-yet-launched Gram tokens directly from legal investors. According to my information, he still manages a vast amount of TON and allocates millions for ecosystem development, like for the RSquad team 😊

Back to the point.

Amidst all this, Durov's silence and missed deadlines are particularly odd. The 2-3 weeks of the third phase he mentioned have passed with no news. TON has returned to $1.8, as I previously noted, while Telegram posts jokes on X about other companies instead of explanations 🤡

At some point, it seems like Telegram is turning into a meme company, and TON into its meme coin. Bullish.

@investkingyru | @investkingyru_en | twitter | CMC | Chats
$KINGY: swap.coffee, xRocket, STON.fi, Dtrade, x1000.