Cryptocurrency investment firm Cypher Capital invests $10 million in TON

ChainCatcher news, UAE cryptocurrency investment firm Cypher Capital has invested $10 million in The Open Network (TON), a Telegram Layer 1 proof-of-stake blockchain continuation project, to support the construction of its blockchain infrastructure.

Bill Qian, Chairman of Cypher Capital and board member of the TON Foundation, stated that the new funding will drive the development of TON in the Middle East, Africa, Asia, Turkey, and India markets. According to data provided by tontech.io, the number of accounts on the TON network has been steadily increasing, surpassing 1.6 million in December. (source link)