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 chain The Open Network.
The documents show that Pantera raised funds from at least 29 investors through two different funds, both of which conducted their first official sale in July this year and completed signing on November 27. According to previous reports from The Block, this venture capital firm began engaging with 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 company's largest investment to date, but they did not disclose the investment amount.
The price of the TON token experienced an increase of over 280% from February to June this year, rising from about $2.15 to a peak of about $8.3, before entering 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, as the cryptocurrency market rebounded widely, the price of TON has recovered all losses 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 increase.
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