Durov couldn’t do that. Users raised and donated over $1 billion to the TON ecosystem

The TON fund was formed by members of the blockchain community who wanted to keep the project alive after Telegram announced it was shutting down in August 2020 following a lawsuit from the SEC.

Donations were made in TON, the ecosystem’s native cryptocurrency. In the 10 days since April 7, nearly 530 million TON was donated, amounting to just over $1 billion. The funds came in through 176 separate donations, most of which came from large holders. Among them, 18 donations totaled more than 10 million TON and 37 totaled more than 4 million TON, a TON Foundation spokesman told CoinDesk.

Of course, the names of such wealthy donors are not disclosed by the TON Foundation, but a spokesman for the organization noted:

“We think all the donors are well aware that having a well-capitalized fund to support the ecosystem helps TON’s success.”

TON also recently received a $250 million investment in its first ecosystem fund, with cryptocurrency exchanges Huobi and Kucoin as venture investors.

Although toncoin is independent of Telegram, the project was approved in December 2021 by Telegram founder Pavel Durov. In early 2021, Andrey Rogozov, a founding member of the TON Foundation, said that toncoin was on its way to being fully integrated into the messaging app, making the coin available to Telegram’s 500 million monthly users. Last Wednesday, a spokesman said that no such plans had been “explicitly confirmed.”

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