Famous instant messaging app Telegram's CEO, Pavel Durov, has confirmed that he owns Toncoin (TON), the native token of The Open Network. Following the announcement, TON's price jumped by 3%. Durov confirmed his Toncoin holdings through his personal Telegram announcement channel. - In the announcement, Durov also said he still owns Bitcoin (BTC).
- Telegram CEO bought 2,000 BTC for $1.5M nearly a decade ago, which would be worth around $60M now.
- Besides, the platform executive stated that he would remain focused on his work without owning anything except Telegram, TON, and BTC.
The blockchain project TON was initially developed by Telegram as the platform's first big step toward Web3. - However, the firm had to abandon the project in 2020 due to legal conflicts with the U.S. Securities and Exchange Commission (SEC), and the project was kept alive by the TON Foundation, embodying community members.
- The popular messaging app has also been developing a blockchain-based auction platform called Fragment on the TON network since last year.
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