Reported by PANews, the move bolsters confidence in The Open Network amid backing from notable early investors and plans to leverage Telegram's vast user base.
On August 11th, PANews reported that Coinbase Ventures became a Toncoin holder, though the size of its holdings remains undisclosed. The foundation described the move as a significant vote of confidence in The Open Network, building on support from early investors such as Sequoia Capital, Benchmark, and Ribbit, and aiming to utilize Telegram's billions of users for broader cryptocurrency adoption.