TON Foundation raises over $400 million through token sales

ChainCatcher news, according to The Block, the TON Foundation announced that a group of venture capital firms, including Sequoia Capital, Ribbit, Benchmark, and Kingsway, has invested over $400 million by purchasing Toncoin cryptocurrency. Other investors include Vy Capital, Draper Associates, and Libertus Capital, as well as CoinFund, Hypersphere, SkyBridge, and Karatage.

A spokesperson for the TON Foundation stated, "These venture capital firms have invested over $400 million in Toncoin, which is the native cryptocurrency of the TON blockchain. This funding is provided in the form of Toncoin, rather than traditional equity or cash."