Pantera Capital invested in TON and can sell it in batches after a one-year lock-up period

According to BlockBeats, on August 29, Bloomberg reported that venture capital institutions that invested in Toncoin are evaluating whether France’s move against Pavel Durov will cause users to flee Telegram.

People familiar with the matter said Pantera bought TON at a price 40% below the market price, and the investment was still profitable based on the average price of $6.32 in May. Pantera's lock-up period is one year, after which it can be sold in batches.

Pantera called Toncoin its largest investment, but did not disclose the amount, Bloomberg said. The TON Foundation said it had never raised funds. Animoca Brands and Mirana Ventures declined to comment.

BlockBeats previously reported that Pantera Capital announced its investment in TON on May 2. Founder Dan Morehead said this was the largest investment in the fund's history, and analysts said the amount was at least more than US$250 million.