Advertisement
Messaging App Telegram Gives Endorsement to TON Project; Token Surges
Messaging app Telegram has endorsed the TON network as its blockchain network of choice for Web3 infrastructure, sending the TON token up some 7% in the past hour.
Telegram began developing the TON blockchain 2018, abandoning the project in August 2020 following legal action from the U.S. Securities and Exchange Commission (SEC) alleging that it was selling unregistered securities. The project was picked up the following year by members of its community, who formed the TON Foundation in order to keep it alive.
Elon Musk Unveils New AI Company, xAI
Tokenization Opportunity Could Reach $5T Over Next…
Uniswap Liquidity Signals ETH Optimism
Roofstock Onchain Sells Another Home Through NFT…
The messaging platform remained a favorite among crypto enthusiasts, possibly thanks to its aborted attempts to launch its own cryptocurrency.
Development of the spinoff network continued, shepherded by the Foundation seemingly independent of Telegram, though the association between the two remained. Many of TON’s most noteworthy developments used Telegram as their arena, such as a TON-built Web3 wallet available in the messaging app.
Advertisement
Read More: Messaging Platform Telegram Has Issued $270M in Bonds to Fund Growth
Edited by Sheldon Reback.
Recommended for you:
- Incoming BOE Deputy Governor Highlights Crypto Risks, Cites Benefits at Parliamentary Hearing
- Trump Digital Trading Card Project Mints NFTs for Winners of Prizes
- Trading Firms Deposit Millions in BTC, ETH and ARB to Exchanges as Crypto Sell-Off Intensifies
Newsletter Every Thursday
Sign up for Crypto for Advisors, our weekly newsletter defining crypto, digital assets and the future of finance.
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Jamie Crawley is a CoinDesk news reporter based in London.
