Toncoin jumps after BlackRock invests in Telegram

Pavel Durov, CEO of Telegram, still has to appear in court in France. That doesn’t stop his company Telegram from launching a new investment round. As a result, Toncoin jumped 20% yesterday.

Limits

Toincoin, the cryptocurrency of social media platform Telegram, seemed to be doing very well at the beginning of last year and was on track to make it into the top 5 of CoinMarketCap for a long time. But then Pavel Durov, CEO of Telegram, landed in France with his private jet and was arrested by the French authorities.

This was mainly because Telegram did not impose any limits on what could be posted, which was in violation of the strict European rules for social media.

As a result, Toncoin’s price fell rapidly during the fall and winter of 2024 and was never able to reach the high peaks of early last year.

Now, however, a turnaround seems to have begun.

BlackRock

Telegram wants to attract new investors with a new round of bonds and according to the usually well-informed Wall Street Journal, none other than BlackRock, the largest investment fund in the world, is prepared to make a large investment in Telegram (which is the last remaining social media platform in the world that is not yet listed).

The price of Toncoin shot up when the news broke and rose by more than 20% in one day.