Coinbase Ventures Backs Toncoin in $400M Round, Bolstering TON Network
Coinbase Ventures has acquired Toncoin through the TON Foundation, joining Web3 investors such as Sequoia Capital, Ribbit, Paradigm and Benchmark in a $400 million token funding round. This move underscores growing institutional confidence in Toncoin, the native token of The Open Network powering Telegram’s mini-apps and DeFi integrations across 1 billion monthly active users. Despite a decline in DeFi total value locked from $800 million to $152 million, the TON ecosystem continues to expand via new partnerships and plans for a $400 million Toncoin treasury company. For traders, this endorsement may lead to short-term price support, higher trading volume and on-chain activity. In the long term, sustained institutional backing is likely to stabilize Toncoin networks and drive wider adoption.
Bullish
The confirmation that Coinbase Ventures holds Toncoin is a clear vote of confidence from a major institutional investor. Historically, similar endorsements have led to increased trading volume and short-term price support. In the long run, institutional backing tends to reduce volatility, improve liquidity and attract further developer and capital inflows. Given the size of the $400 million funding round and the token’s role in Telegram’s ecosystem, this news is likely to be bullish for Toncoin, supporting both immediate price momentum and sustained growth.