DWF Labs Announces Investment, Telegram Altcoin Soars
DWF Labs, one of the most active investment firms in the cryptocurrency and Web3 space, announced its support for Telegram CEO Pavel Durov.
The Toncoin (TON) price fell after the Telegram founder was detained at an airport near Paris over the weekend. According to CoinGecko data, TON lost about 20 percent of its value on a weekly basis.
However, TON began to make up for this decline with the support of the cryptocurrency community. The TON price, which rose by 6 percent in the last 24 hours, rose above $5.65 again.
Investor support for the TON price
DWF Labs founder Andrei Grachev said, âThere is not much we can do, but I decided to support as much as I can,â regarding Pavel Durov.
Grachev announced that he bought about $500,000 worth of TON from the open market. Grachev said that he will continue to keep them in his blockchain wallet until Pavel Durov is released.
The DWF Labs manager said, âI donât want to give financial advice, but I just want to support uncensored and decentralized technology. We are stronger together.â
The crypto community stands by Telegram
Many prominent names in the crypto community have supported the Telegram and TON community. Among them, in addition to Elon Musk, are Vitalik Buterin, Justin Sun, Anatoly Yakovenko and many more.
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