Insiders: Pantera purchased TON tokens at a 40% discount in May at market price, with a lock-up period of one year

ChainCatcher news, according to Bloomberg, venture capital firms that have invested in Toncoin (typically signing agreements not to sell for at least a year) are now trying to assess whether France's actions against Pavel Durov will lead to user exodus from Telegram.

Insiders say that Pantera purchased TON at a price 40% below market value at the time. Due to confidentiality of the terms, this insider requested anonymity. Based on the average price of $6.32 at the time the deal was announced in May, this investment is still likely to be profitable. The insider also revealed that Pantera's lock-up period is one year, after which it can sell TON in batches over several years.

Additionally, Bloomberg reported that Pantera described Toncoin as its largest investment, but did not disclose the specific amount. The TON Foundation stated in an email that it has never raised funds. Animoca Brands did not comment on its investment, and Mirana Ventures did not respond immediately to inquiries.

Previously, Pantera Capital announced its investment in TON on May 2 of this year, with founder Dan Morehead stating that it was the largest investment in the fund's history in Telegram's TON blockchain project. Analysts estimate that the investment amount will exceed $250 million at a minimum.