According to (DL News) reports, documents submitted to the U.S. Securities and Exchange Commission (SEC) on Monday show that blockchain venture capital firm Pantera Capital has raised $20 million to invest in the native token Toncoin (TON) of the public blockchain The Open Network.
Documents show that Pantera raised funds from at least 29 investors through two different funds, both of which had their first official sale in July this year and completed signing on November 27. According to previous reports from The Block, the venture capital firm started reaching out to investors in June, with a minimum participation threshold of $250,000.
The new Toncoin fund continues Pantera's previous bet on this cryptocurrency related to the messaging software Telegram. Pantera founder Dan Morehead stated in May when announcing the investment in Toncoin that it was the largest investment the company had made to date, although they did not disclose the investment amount.
The price of the TON token experienced a rise of over 280% from February to June this year, increasing from around $2.15 to a peak of about $8.3, and later entered a correction in August, during which Telegram founder and CEO Pavel Durov was detained in France.
After Donald Trump won the U.S. presidential election, with a broad rebound in the cryptocurrency market, the price of TON has recovered all the declines since Durov's arrest, rising 54% to $7.19 since November 6, and some tokens in the Toncoin ecosystem have also begun to initiate another wave of gains.
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