Pantera Capital announced in their blog about their decision to invest in TON.
Pantera Capital is an investment company and hedge fund specializing in blockchain and cryptocurrencies. It was founded in 2013 by Dan Morehead, former Wall Street executive and CFO of Tiger Management. According to some estimates, its investment portfolio exceeds $5 billion.
"We believe TON has the capacity to introduce crypto to the masses because it is used extensively within the Telegram network. Telegram has over 900 million monthly active users on its future-facing, fast, and secure messaging platform that is used for personal and group communications, large-scale community building, content sharing, and more." - Pantera Capital.
Pantera Capital's investments will go towards supporting future and existing developers in the TON ecosystem.
The fund investors believe that TON network is still in its early stages of development, and are eager to see how its ecosystem and new features will be embraced by Telegram users.
Previously, other funds such as DWF Labs ($10M), Mask Network, MEXC, Animoca Brands, KuCoin Ventures, and Mirana Ventures ($8M) have invested in TON, for a total sum of over $30 million.
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