TON Blockchain: From $1.7 Billions Pre-SEC Gram tokens Investment lead by $7M by Alisher Usmanov to $TON coin $400M VC Boom _ Pavel Durov Key Developers & Ecosystem Insights | Aleksei DOLGIKH

The TON/Gram token venture, initially launched by Telegram under the leadership of founders Pavel Durov and Nikolai Durov, has grown into a community-driven initiative overseen by the TON Foundation, with Manuel Stotz as its president. The project's development has been shaped by key contributors like Andrew Rogozov, CEO of The Open Platform & Wallet, alongside developers Anatoliy Makosov (Tolya Yanot), Kirill Emelyanenko, Mitja Goroshevsky of TON Labs, Vyacheslav Semenchuk, and Dmitry Goroshevsky. This ambitious blockchain endeavor has attracted substantial support from a wide range of venture capital firms and investors, including Sequoia Capital (represented by partners Shaun Maguire and, via Sequoia Capital Israel, Haim Sadger and Shmuel Levy), Ribbit Capital (Micky Malka), Benchmark (Peter Fenton), Kingsway Capital (also tied to Manuel Stotz), Pantera Capital (Dan Morehead), CoinFund (Alex Felix and Jake Brukhman), Hypersphere (Jack Platts and Rob Gilson), Draper Associates (Tim Draper), Libertus Capital (Adam Draper), Vy Capital (Alexander Tamas), SkyBridge (Anthony Scaramucci), and Karatage. Additionally, high-profile figures like Alisher Usmanov and Roman Abramovich have been rumored to be linked to the project, though their direct participation remains unverified. Together, these individuals and organizations highlight the TON ecosystem's extensive network and its significant potential in the realms of decentralized finance and blockchain innovation.

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Key Points Of TON Blockhain Ecosystem

• Research suggests TON raised $1.7 billion in 2018, with $1.2 billion returned after an SEC settlement in 2020, and secured $400 million in Toncoin investments in March 2025.
• Key investors include Sequoia Capital, Ribbit, Benchmark, and others, with quotes reflecting strong belief in TON’s potential.
• Major TON projects like TON DNS, STON.fi, and USDt on TON show significant adoption, with metrics like 80,564 registered domains and growing USDT supply.
• Financial insights vary, with STON.fi reporting a 24-hour trading volume of $2,368,983.96, while some projects lack detailed public data.

Investors and Projects Overview

The TON blockchain, initially developed by Telegram, has seen significant financial backing and ecosystem growth. It seems likely that the $400 million investment in March 2025 from venture capital firms like Sequoia Capital and Ribbit Capital reflects renewed confidence, especially given Telegram’s 900 million users. Key investors provided statements highlighting TON’s potential for global financial access and scalability.

For projects, TON DNS has over 80,564 registered domains, indicating strong adoption for human-readable addresses. STON.fi, a decentralized exchange, shows robust activity with a 24-hour trading volume of $2,368,983.96, while USDt on TON’s supply grew to over 130 million within weeks, facilitating low-cost transactions. Other projects like Tonkeeper and TON Space are integral wallets, though exact user numbers are unavailable. TON Teleport BTC, still in testnet, aims to bridge Bitcoin, with a mainnet launch planned for Q2 2025. The Animoca Brands partnership involves a $20 million initiative to boost TON’s gaming and community efforts.

Financial Insights

Financial data varies by project. The $400 million Toncoin investment was structured as token purchases, not equity, suggesting strategic partnerships. STON.fi’s trading volume is a clear metric, but for storage or wallets, public financials are limited. USDt on TON’s growth is notable, but exact supply figures beyond initial reports are unclear. The evidence leans toward TON’s ecosystem being financially robust, driven by VC support and user adoption, though some metrics remain opaque.

Survey Note: Comprehensive Analysis of TON Blockchain Investors and Projects

The TON blockchain, originally developed by Telegram and now a community-driven ecosystem under the TON Foundation, has undergone significant financial and developmental milestones as of April 17, 2025. This survey note provides an in-depth examination of its investor base, key projects, and associated financial insights, leveraging verified sources to ensure accuracy and completeness.

Investor Landscape and Financial Backing

The TON blockchain’s financial journey began with a substantial raise of $1.7 billion in 2018 through private sales of Gram tokens, later renamed Toncoin, targeting 171 global investors. Of this, $1.2 billion was part of an unregistered offering that drew scrutiny from the U.S. SEC, leading to a settlement in 2020 requiring Telegram to return $1.2 billion to investors and pay an $18.5 million civil penalty SEC Press Release on Telegram Settlement. Post-settlement, TON transitioned to community-driven development, with independent developers continuing its growth under the TON Foundation.

In March 2025, the TON Foundation announced a significant milestone with over $400 million invested in Toncoin by leading venture capital firms, confirmed by multiple sources including TON Foundation discloses leading VCs invest over $400M in Toncoin. This investment, structured as token purchases rather than traditional equity, reflects strong belief in the blockchain’s potential, particularly given Telegram’s 900 million monthly active users as of March 2025 Venture capital firms invest $400M in TON blockchain. The investors include:

• Sequoia Capital: Partner Shaun Maguire quoted, "The TON team is the best in the world at the intersection of consumer product thinking and crypto infrastructure. When you combine this with the global distribution of Telegram, we’re very excited to see where they go."
• Ribbit: Founder Micky Malka quoted, "Ribbit partners with exceptional teams tackling and solving the world’s biggest problems. TON and Telegram exemplify this, working together to expand financial access globally by coupling the best technology with a seamless consumer experience."
• Benchmark: Partner Peter Fenton quoted, "Telegram’s user base, which is expected to grow to over 1.5 billion through 2030, creates an unprecedented opportunity in the history of humanity to provide ubiquitous financial flows that have been limited until now to information flows, TON provides the backbone for human-scale democratization of financial activity."
• Kingsway: Led by Manuel Stotz, now TON Foundation President, with no additional quoted details.
• Vy Capital: Mentioned as a key backer, no additional details provided.
• Draper Associates: Founder Tim Draper quoted, "I’ve been a long-time believer in the potential of blockchain to disrupt traditional industries and systems. TON’s technology is highly impressive, and its integration with Telegram provides it with a distribution that no other blockchain can match."
• Libertus Capital: Mentioned as a key backer, no additional details provided.
• CoinFund: Co-Founder and CIO Alex Felix quoted, "The TON ecosystem has huge potential energy and a significant distribution advantage, especially in gaming, stablecoin payments and remittances. As exemplified through our investment in StonFi, CoinFund continues to be bullish on the growth of the TON ecosystem as a whole and the opportunities ahead for the Foundation."
• Hypersphere: Mentioned as a key backer, no additional details provided.
• SkyBridge: Mentioned as a key backer, no additional details provided.
• Karatage: Mentioned as a key backer, no additional details provided.

This investment focuses on expanding TON’s utility within Telegram’s ecosystem, particularly in DeFi, gaming, and cross-border payments, as reported by Daily Hodl Report on Toncoin Investment.

Key TON Projects and Their Contributions

The TON ecosystem comprises several flagship projects, each contributing to its scalability and user adoption. Below is a detailed breakdown, including full names where applicable and financial insights:

• TON DNS: Officially known as The Open Network Domain Name Service, it allows users to register human-readable .ton domains for wallets, smart contracts, and websites. The official website Get .ton domains facilitates registration, with documentation at TON DNS & domains. Research suggests over 80,564 domains registered as NFTs, as per TON DNS Domains NFT Collection, indicating strong adoption for user-friendly addressing.
• TON Storage: A decentralized file storage solution on the TON blockchain, detailed at Ton Storage Providers. It aims to provide reliable storage by replicating data across nodes, with TON Storage FAQ offering technical insights. There are 10 storage providers listed, but total capacity data is not publicly available, limiting financial insights.
• STON.fi: A decentralized automated market maker (AMM) built on TON, offering token swaps with low fees and slippage, as per STON.fi official website. It’s a key DeFi project, with a 24-hour trading volume of $2,368,983.96 USD, as confirmed by browsing STON.fi trade volume. This metric underscores its activity, with additional details at About STON.fi.
• Tonkeeper: A non-custodial wallet for the TON blockchain, detailed at Tonkeeper official website. It facilitates storing, sending, and receiving Toncoin with low fees, as per Tonkeeper: What is it and Why is it Important?. While exact user numbers are unavailable, it’s a leading wallet in the TON ecosystem, with over 41 million native accounts reported, suggesting significant usage TON Ecosystem Review.
• TON Space: Another non-custodial wallet integrated into Telegram, detailed at TON Space - Wallet EN. It facilitates easy crypto transactions within Telegram, with features like sending and receiving Toncoin, but specific user numbers are not publicly available, aligning with the ecosystem’s 41 million accounts.
• USDt on TON: Tether’s stablecoin (USDT) on the TON blockchain, enabling fee-less transfers, as per USDT Processing. Research suggests the supply grew to over 130 million within two weeks of launch, as reported by USDT Stablecoin Supply on TON Blockchain Hits 130 Million in 2 Weeks, part of the total 144 billion USDT circulating supply Tether Price, USDT Price, Live Charts, and Marketcap.
• TON Teleport BTC: A bridge for transferring Bitcoin to TON, detailed at Introducing TON Teleport: Bringing Bitcoin to TON. It’s in testnet phase, with a mainnet launch scheduled for Q2 2025, as per TON Teleport BTC: New Wrapped Bitcoin on TON Blockchain. Financial data is not yet available due to its developmental stage.
• Animoca Brands Partnership: A $20 million initiative involving TON Foundation, Animoca Brands’ Mocaverse, and MOCA Foundation, detailed at TON Foundation and Animoca Brands’ Mocaverse Partner in a $20M Initiative to Support TON. It includes a token reserve of MOCA Coin and Toncoin to incentivize developer and user adoption through programs like hackathons, as reported by Animoca Brands’ Mocaverse, MOCA Foundation, and TON Foundation execute strategic partnership.

Comparative Analysis and Financial Metrics of $TON

To organize the financial insights, the following table summarizes key metrics where available:

• TON DNS

• Description: Human-readable domain system (.ton addresses)
• Financial Metrics: 80,564 registered domains (NFTs) as of latest data

• TON Storage

• Description: Decentralized file storage akin to blockchain-based torrents
• Financial Metrics: 10 storage providers, total capacity not specified

• STON.fi

• Description: Leading TON DEX with automated market-making (AMM)
• Financial Metrics: 24-hour trading volume: $2,368,983.96 USD

• Tonkeeper

• Description: Non-custodial wallet integrated into Telegram
• Financial Metrics: Part of 41 million TON native accounts, exact user numbers unavailable

• TON Space

• Description: Non-custodial wallet integrated into Telegram
• Financial Metrics: Part of 41 million TON native accounts, exact user numbers unavailable

• USDt on TON

• Description: Tether's stablecoin integration, enabling fee-less transfers
• Financial Metrics: Supply grew to over 130 million within two weeks, part of 144B total USDT

• TON Teleport BTC

• Description: Trustless Bitcoin-TON bridge for DeFi interoperability
• Financial Metrics: In testnet, mainnet Q2 2025, no current financial data

• Animoca Brands Partnership

• Description: $20M token reserve for incentives, hackathons, and accelerator programs
• Financial Metrics: $20M MOCA Coin and Toncoin reserve for ecosystem growth

The TON ecosystem’s transaction volume has surged, with daily transactions exceeding 2.38 million as per TON Stat, and a reported 1800% growth in transaction volume over six months, driven by DEX trading volume growth from $2 million to $40 million Bitget Research Report Highlights TON Ecosystem Transaction Volume Surged 1800% in Under Six Months. This underscores the ecosystem’s financial robustness, particularly in DeFi and user engagement.

Regulatory and Future Outlook

Despite early SEC setbacks, TON has pivoted toward compliance, emphasizing decentralized governance and utility-driven tokenomics. The 2025 VC infusion aims to accelerate U.S. expansion, with Kingsway Capital’s Manuel Stotz leading strategic partnerships, as noted in Venture Capital Firms Invest More than $400,000,000 in Layer-1 Asset Toncoin. Recent milestones, including TON Teleport BTC and the Animoca Brands partnership, position TON to redefine blockchain adoption, leveraging Telegram’s vast user base.

Conclusion

This analysis highlights TON’s resilience amid regulatory turbulence, leveraging significant VC backing and a scalable ecosystem. With projects like STON.fi showing active trading and USDt on TON facilitating low-cost transactions, TON aims to onboard millions, driven by community development and strategic partnerships. The detailed metrics and investor insights underscore its potential to redefine blockchain adoption, one Telegram message at a time.

Key Citations

• SEC Press Release on Telegram Settlement
• CoinDesk Article on SEC Settlement
• Cointelegraph News on $400M Investment
• Daily Hodl Report on Toncoin Investment
• TON Foundation Interview with Anatoliy Makosov
• Golden Profile of Anatoliy Makosov
• CoinGecko Top TON Ecosystem Projects
• CryptoTotem TON Ecosystem List
• CoinEdition News on TON Teleport BTC
• TON Foundation Partnership with Animoca Brands
• Animoca Brands Announcement
• KuCoin Learn on TON dApps
• Wikipedia Entry on The Open Network
• CryptoRank.io TON Ecosystem Analytics
• TON Foundation Blog on $400M Investment
• Get .ton domains
• TON DNS & domains
• TON DNS Domains NFT Collection
• Ton Storage Providers
• TON Storage FAQ
• STON.fi official website
• STON.fi trade volume
• About STON.fi
• Tonkeeper official website
• Tonkeeper: What is it and Why is it Important?
• TON Ecosystem Review
• TON Space - Wallet EN
• USDT Processing
• USDT Stablecoin Supply on TON Blockchain Hits 130 Million in 2 Weeks
• Tether Price, USDT Price, Live Charts, and Marketcap
• Introducing TON Teleport: Bringing Bitcoin to TON
• TON Teleport BTC: New Wrapped Bitcoin on TON Blockchain
• TON Foundation and Animoca Brands’ Mocaverse Partner in a $20M Initiative to Support TON
• Animoca Brands’ Mocaverse, MOCA Foundation, and TON Foundation execute strategic partnership
• TON Stat
• Bitget Research Report Highlights TON Ecosystem Transaction Volume Surged 1800% in Under Six Months

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Key Points about Alisher Usmanov participation in GRAM Token 2018 ICO

• Research suggests Alisher Usmanov had no confirmed role in the recent $400 million Toncoin investment, with past involvement in the 2018 TON ICO denied by his representatives.
• It seems likely Israeli investors are involved via Sequoia Capital's Israeli branch, part of the $400 million deal, with no other specific Israeli investors identified.
• The evidence leans toward the following full names for investors: Shaun Maguire, Micky Malka, Peter Fenton, Manuel Stotz, Tim Draper, Adam Draper, Alex Felix, Jack Platts, Rob Gilson, Anthony Scaramucci, and Alexander Tamas, with Karatage's partner unnamed.

Direct Answer

Overview

The TON (The Open Network) blockchain, linked to Telegram, recently saw a $400 million investment in March 2025, raising questions about connections to Alisher Usmanov, Israeli investors, and the full names of involved investors. Here's a clear breakdown for understanding these aspects.

Alisher Usmanov's Connection

Research suggests Alisher Usmanov, a Russian-Uzbek oligarch, was initially reported to have invested $7 million in the 2018 TON ICO, but his representatives later denied this involvement. There is no evidence of his direct or indirect connection to the current TON Foundation or the recent $400 million investment, especially given his sanctions by the US, EU, and UK.

Israeli Investors

It seems likely that Israeli investors are involved through Sequoia Capital's Israeli branch, which is part of the $400 million Toncoin investment. However, no other specific Israeli venture capital firms or individual investors were identified in the deal, limiting the scope of direct Israeli involvement.

Full Names of Investors

The evidence leans toward the following key individuals associated with the VC firms in the $400 million investment:

• Sequoia Capital: Shaun Maguire
• Ribbit Capital: Micky Malka
• Benchmark: Peter Fenton
• Kingsway Capital: Manuel Stotz
• Draper Associates: Tim Draper
• Libertus Capital: Adam Draper
• CoinFund: Alex Felix
• Hypersphere: Jack Platts and Rob Gilson
• SkyBridge: Anthony Scaramucci
• Vy Capital: Alexander Tamas
• Karatage: No specific partner name identified, attributed to the firm.

This list covers the main investors, with Karatage's lack of named partners noted due to limited public information.

Comprehensive Analysis of TON Ecosystem: Connections to Alisher Usmanov, Israeli Investors, and Investor Identities

The TON (The Open Network) blockchain, initially developed by Telegram and now managed by the TON Foundation, has seen significant growth, particularly with a $400 million investment in Toncoin announced in March 2025. This investment, involving several venture capital (VC) firms, has sparked interest in potential connections to figures like Alisher Usmanov, Israeli investors, and the full names of involved investors. This analysis, conducted as of April 17, 2025, provides a detailed examination of these aspects, leveraging verified sources to ensure accuracy and depth.

Historical and Current Context of TON

TON originated as Telegram Open Network, with Telegram raising $1.7 billion in 2018 through private sales of Gram tokens (later Toncoin) to 171 global investors. This initiative faced regulatory scrutiny from the U.S. SEC, leading to a 2020 settlement where Telegram returned $1.2 billion and paid an $18.5 million penalty, halting direct involvement. The project transitioned to a community-driven model under the TON Foundation, which has since focused on integrating with Telegram’s 900 million-user ecosystem, particularly in DeFi, gaming, and payments.

The recent $400 million investment, announced in March 2025, involved VC firms purchasing Toncoin, signaling renewed confidence in TON’s scalability and utility. This investment is distinct from the original ICO, with no direct ties to the earlier funding structure.

Investigation into Alisher Usmanov’s Connections

Alisher Usmanov, a Russian-Uzbek oligarch with an estimated net worth of $16.7 billion as of March 2025, has a history in tech investments, including early stakes in Facebook and Alibaba. His potential connection to TON stems from reports of his involvement in the 2018 TON ICO, where he was allegedly an investor with a $7 million contribution, as noted in a 2019 Steemit article. However, subsequent denials from Usmanov’s representatives, reported in 2024 by Cryptorussia and CWR, suggest these claims were inaccurate. Given his sanctions by the US, EU, UK, and Ukraine due to Russia’s actions in Ukraine, direct involvement in the current TON Foundation or the $400 million investment is unlikely.

Usmanov’s past ties to Telegram are indirect, primarily through his association with VKontakte, where he was a shareholder via Mail.ru Group and had conflicts with Pavel Durov, Telegram’s founder. There is no evidence of current involvement in TON, and his investment history does not extend to the post-SEC community-driven phase.

Conclusion: Research suggests no confirmed connection between Usmanov and the current TON ecosystem, with past ICO involvement denied and no recent ties identified.

Israeli Roman Abramovich Investor Involvement

The $400 million Toncoin investment involved several global VC firms, with Sequoia Capital being a notable participant. Sequoia Capital has a dedicated Israeli branch, Sequoia Capital Israel, focusing on seed to growth-stage investments in Israeli startups, as detailed on Crunchbase. While there is no explicit confirmation of Sequoia Capital Israel’s specific role in the Toncoin deal, Sequoia’s overall investment can be considered to have Israeli involvement due to its global structure and Israeli operations.

Other Israeli VC firms, such as Aleph, Entrée Capital, and Collider Ventures, were not mentioned in the investment announcements, and searches for “Israeli VC firms investing in Toncoin” yielded no specific results beyond Sequoia’s involvement. The Israeli tech ecosystem, known for its focus on cybersecurity, fintech, and AI, has not been publicly linked to TON beyond Sequoia’s participation.

Roman Abramovich, a Russian-Israeli billionaire, was reportedly involved in the 2018 Gram token sale, but his current involvement in TON is unclear, with no mention in the 2025 investment round. Given Telegram’s global user base and Durov’s positive remarks about Israel, there is potential for indirect Israeli interest, but no specific investors beyond Sequoia were identified.

Conclusion: It seems likely that Israeli investors are involved via Sequoia Capital’s Israeli branch, with no other specific Israeli VC firms or individuals confirmed in the $400 million deal.

Full Names of Investors in the $400 Million Toncoin Investment

The $400 million investment was made by several VC firms, with key individuals associated with these firms identified through public statements and reports. The following table lists the firms and their known partners involved:

• Sequoia Capital — Shaun Maguire (Partner)
• Ribbit Capital — Micky Malka (Founder)
• Benchmark — Peter Fenton (Partner)
• Kingsway Capital — Manuel Stotz (Founder)
• Draper Associates — Tim Draper (Founder)
• Libertus Capital — Adam Draper (Founder)
• CoinFund — Alex Felix (Co-Founder, CIO)
• Hypersphere — Jack Platts (Co-Founder), Rob Gilson (Co-Founder)
• SkyBridge — Anthony Scaramucci (Founder)
• Vy Capital — Alexander Tamas (Founder)
• Karatage — No specific partner identified

The list was compiled from investment announcements, such as the Daily Hodl report, and quotes from firm representatives, like Shaun Maguire’s statement on Sequoia’s involvement. Karatage’s lack of named partners is due to limited public information, with the investment attributed to the firm itself.

Conclusion: The evidence leans toward the above list, covering key individuals from the VC firms, with Karatage’s partner unnamed.

Comparative Analysis and Financial Metrics

To contextualize, the $400 million investment reflects TON’s growth, with daily transactions exceeding 2.38 million as per TON Stat. STON.fi, a TON DEX, reported a 24-hour trading volume of $2,368,983.96, while USDt on TON’s supply grew to over 130 million, highlighting ecosystem activity. These metrics underscore the financial robustness driving investor interest, particularly from firms like Sequoia with Israeli ties.

Regulatory and Future Outlook

Despite early SEC setbacks, TON has pivoted toward compliance, with the 2025 VC infusion aiming for U.S. expansion, led by Manuel Stotz. Recent milestones, like TON Teleport BTC and a $20 million Animoca Brands partnership, position TON for broader adoption, potentially attracting more Israeli and global investors.

Key Citations

• Steemit Article on TON ICO Investors
• Cryptorussia Report on Usmanov's Denial
• Sequoia Capital Israel Overview
• Toncoin Investment Announcement
• Toncoin Investment Announcement by TON Foundation
• Daily Hodl Report on Toncoin Investment
• TON Stat

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Overview by your CoinMarketCap truly Aleksei Dolgikh | for hate, support, love and collaborations, donate: at my BTC wallet bc1qvf6hlcnlqttj02gcl65v4x44u9aayly58gdfuz or at my SOL wallet 7JpUfPq3XQ6r1oRy16ne2HtzZ7XjmRigatkRL2kfSpQ1 or at my TON wallet UQApDresuUB2SoP5aBUDDg06bKgcHAWTRAYBddKluZhHZ3UE or at my ETH/BNB wallet 0x211D91beD006f7bB3Eaf97496260a8F905298Cea | 👨🏼‍🌾🦄 Any time text Aleksei Dolgikh in WA/Botim +79528485427, newer awailable for incoming call, there is always one scenario, you write a text, I call if I want to :)