TON has dropped nearly 15% in the past seven days, yet these three VCs remain confident in it
This controversy has significantly increased the visibility of TON, which may attract more users and developers to join this ecosystem.Original Title: 《These three crypto VCs say they're sticking with TON as Telegram arrest tanks token》
Author: Ben Weiss, DL News
Translation: Lila, BlockBeats
Despite the recent sharp decline in TON's price, some cryptocurrency venture capital firms have stated that they will not abandon the world's tenth-largest cryptocurrency.
Recently, French authorities arrested Telegram CEO Pavel Durov. Due to the close ties between TON and Telegram, TON's price has dropped nearly 15% over the past week, currently reported at $5.58 as of the time of publication.
Even so, Alex Felix, managing partner at CoinFund, does not regret his venture firm's investment in TON. He stated, "The fundamentals of TON remain attractive."
A surge of attention will have a positive effect
Matthew Graham, founder and CEO of another venture capital firm investing in TON, Ryze Labs, shares a similar sentiment. He said, "While the news of Pavel's arrest is quite significant, it is also worth noting that this week, accounts on TON have surpassed the 50 million mark for the first time."
Joven Wu, head of business development at Ryze Labs, mentioned in a recent blog that Durov's arrest could be an "unexpected blessing" for cryptocurrency. He wrote, "This controversy has greatly increased the visibility of TON, which may attract more users and developers to join this ecosystem."
TON is not Telegram
The three cryptocurrency venture capital firms interviewed emphasized that the Telegram app should not be conflated with TON. In 2020, TON was nominally separated from Telegram after reaching a settlement with the U.S. Securities and Exchange Commission.
Felix, discussing the arrest of Durov, said, "It is important to note that the government's concerns seem to be more related to regional compliance issues with traditional tech companies, such as content moderation, rather than the crypto platform itself."
Shauli Rejwan, managing partner at Masterkey VC and an early investor in TON, believes that despite the news of Durov's arrest, the token may completely shed its association with Telegram in the future. He stated, "History has shown that strong projects can transcend their initial associations, and TON's current trajectory indicates that it has the potential to do so."
Additionally, according to the BBC, a French prosecutor stated on Wednesday that Durov is under formal investigation and is prohibited from leaving the country. He must report to the police twice a week, with bail set at $5.5 million.
