According to U.Today, a massive transfer of thirty million Toncoin (TON) was made from The Open Network Foundation to the popular messaging platform, Telegram, on June 26. The transaction, which is equivalent to $224.64 million, was made in a single tranche to the address 'UQCMOX', as per data from TON Explorer.
The balance of this address now holds 213.48 million TON, equivalent to $1.59 billion. This wallet is quite active, with regular transactions both incoming and outgoing. It is owned by Telegram, a popular messaging platform with nearly a billion users, which is closely linked to the TON blockchain.
There are suggestions that the address may be associated with Fragment, a blockchain platform developed by the Telegram team. Fragment allows users to buy and sell profile and channel IDs, anonymous numbers, and Telegram Premium subscriptions. The Open Network Foundation, meanwhile, is a nonprofit community dedicated to supporting and developing the TON blockchain.
The recent transfer could be interpreted as a movement of funds from the nonprofit organization that supports the blockchain to the messaging platform where the blockchain conducts all its activities. Whether this can be considered a donation to Telegram remains unclear. Neither Telegram nor The Open Network Foundation have commented on the substantial transfer, which is worth a quarter of a billion dollars.