Telegram-related cryptocurrency TON has received $20 million in funding from Pantera Capital, down 13% from its all-time high.
Toncoin has largely recovered from losses following the arrest of Telegram CEO Pavel Durov and is trading at around $6.60 amid investor confidence. Pantera's investment reflects #optimism about #Toncoin despite the controversy surrounding Telegram's legal troubles earlier this year.
Pantera Capital, a leading hedge fund and venture capital firm in the #cryptocurrency space, has raised $20 million to invest in Toncoin, a cryptocurrency linked to Telegram Open Network TON/USD.
What happened: according to DL News, this was revealed in documents filed with the U. S. Securities and Exchange Commission (SEC) on Monday.
According to the documents, Pantera raised the funds through two separate investment vehicles and collected commitments from at least 29 investors.
Both funds launched their first official sales in July after an initial call for investors in June.
The minimum investment amount was reportedly $BTC Pantera previously called Toncoin its largest investment and will continue to invest in Toncoin.
'Largest' is what Pantera called its future investment in Toncoin.
However, Pantera did not disclose specific figures on the total amount of its investment in the cryptocurrency.
Despite requests, the company has not publicly commented on its latest funding.
Why it matters: despite the controversy surrounding Telegram CEO Pavel Durov, Pantera's enthusiasm for Toncoin reflects broader optimism among crypto investors.
French authorities detained Durov in August and filed preliminary charges against him for refusing to cooperate with law enforcement authorities in connection with criminal activities at Telegram, including the distribution of illegal materials and drug sales.
Durov, who is currently out on bail, denies the charges.
the arrest initially caused Toncoin's value to plummet.
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