Pantera Capital Evaluates Impact of French Actions on Toncoin Investment

According to BlockBeats, on August 29, Bloomberg reported that venture capital firms investing in Toncoin, which typically sign agreements not to sell within at least a year, are now assessing whether French actions against Pavel Durov will lead to a user exodus from Telegram. Insiders revealed that Pantera Capital purchased TON at a 40% discount to the market price. Due to confidentiality agreements, the source requested anonymity. Based on the average price of $6.32 announced in May, this investment remains profitable. The source also disclosed that Pantera's lock-up period is one year, after which it can sell TON in batches over several years. Additionally, Bloomberg noted that Pantera described Toncoin as its largest investment but did not disclose the exact amount. The TON Foundation stated in an email that it has never raised funds. Animoca Brands did not comment on its investment, and Mirana Ventures did not immediately respond to inquiries. BlockBeats previously reported that Pantera Capital announced its investment in TON on May 2, with founder Dan Morehead stating it was the largest investment in the fund's history. Analysts estimate the investment amount to be at least $250 million.