{"id":88240,"date":"2026-01-07T15:41:17","date_gmt":"2026-01-07T15:41:17","guid":{"rendered":"https:\/\/freakcryptos.com\/index.php\/2026\/01\/07\/telegram-sold-450m-in-toncoin-ton-raising-holder-concerns\/"},"modified":"2026-01-07T15:41:17","modified_gmt":"2026-01-07T15:41:17","slug":"telegram-sold-450m-in-toncoin-ton-raising-holder-concerns","status":"publish","type":"post","link":"https:\/\/freakcryptos.com\/index.php\/2026\/01\/07\/telegram-sold-450m-in-toncoin-ton-raising-holder-concerns\/","title":{"rendered":"Telegram Sold $450M in Toncoin (TON), Raising Holder Concerns"},"content":{"rendered":"


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Toncoin (TON) has fallen greater than 75% from its 2024 peak and over 65% from its 2025 excessive. Investors are blaming Telegram for promoting an quantity equal to roughly 10% of TON\u2019s circulating market capitalization.<\/strong><\/p>\n

Analysts are divided over the affect of this transfer. At the identical time, Toncoin\u2019s progress has develop into extra carefully tied to information associated to Telegram.<\/p>\n

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Critics Blame Telegram for Toncoin\u2019s Weak Price Performance<\/h2>\n

A current Financial Times report stated<\/a> that Telegram offered greater than $450 million value of Toncoin<\/a> in 2025. This disclosure sparked intense debate amongst analysts and the crypto group.<\/p>\n

Concerns shortly emerged concerning the motivation behind the sale. Critics argue <\/a>that the first aim was to fund Telegram\u2019s company operations relatively than straight assist the TON ecosystem. This has raised questions on long-term worth accrual for TON holders.<\/p>\n

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Toncoin (TON) value efficiency over the previous 12 months. Source: BeInCrypto<\/a><\/figcaption><\/figure>\n

Some traders declare that this promoting exercise has contributed to TON\u2019s stagnant value efficiency.<\/p>\n

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\u201cHoly schmolly, no wonder TON is down 66%,\u201d investor 0xGeeGee stated.<\/p>\n<\/blockquote>\n

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Investor Mike Dudas compared<\/a> the scenario to Pump.enjoyable, which spent $225 million shopping for again its personal token, to focus on the distinction in technique.<\/p>\n

The FT report additionally famous that round $500 million value of Telegram\u2019s Russian bonds have been frozen below Western sanctions. This element means that Telegram nonetheless faces monetary publicity to Russia. The data has fueled investor doubts about Telegram\u2019s financial independence.<\/p>\n

Negative information surrounding Telegram might have a long-lasting and vital affect on Toncoin\u2019s value. Previously, Telegram CEO Pavel Durov described<\/a> TON because the financial spine of the Telegram platform.<\/p>\n

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What Do Telegram\u2019s Defenders Say?<\/h3>\n

In response to those considerations, Manuel Stotz, Executive Chairman of TON Strategy Co (NASDAQ: TONX), pushed again in opposition to the criticism.<\/p>\n

He emphasised that Telegram stays dedicated to the TON blockchain. He clarified that each one TON offered is topic to a four-year vesting interval. The largest purchaser is TON Strategy Co itself, a everlasting capital automobile designed to build up, maintain, and stake TON relatively than promote it available on the market.<\/p>\n

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To the extent this put up (by @mdudas<\/a>, who\u2019s usually fairly sensible) would possibly name into query Telegram\u2019s dedication to @ton_blockchain<\/a> it solely is smart to politely set the report straight:<\/p>\n

1) All $TON<\/a> offered by Telegram has four-year vesting.<\/p>\n

2) The by far largest purchaser of\u2026 https:\/\/t.co\/JqIaq6R3Lp<\/a><\/p>\n

\u2014 Manuel Stotz (@ManuelStotz) January 6, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

Meanwhile, CoinGecko reported<\/a> that TON Strategy is at the moment sitting on losses. The agency holds greater than 4% of TON\u2019s complete provide, now valued at over $406 million, whereas it spent $713 million to build up the place.<\/p>\n

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Supporting the protection, contributor DamX argued that Telegram\u2019s gross sales don’t symbolize an exit however an effort to stability the ecosystem. He claimed that extreme TON accumulation by Telegram would hinder decentralization. Controlled gross sales to long-term buyers<\/a> with lockups and vesting are introduced as a more healthy different.<\/p>\n

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\u201cTelegram sells TON because it has to, not because it wants out. Ads, revenue sharing, minting and upgrading usernames, gifts, Premium, Stars, and other in-app payments all settle through TON in one way or another. As Telegram scales, it naturally accumulates TON from these flows,\u201d DamX said<\/a>.<\/p>\n<\/blockquote>\n

Regarding the alleged monetary publicity to Russia, Pavel Durov denied the declare, stating that the knowledge was inaccurate.<\/p>\n

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Despite some FUD, Telegram has no dependance on Russian capital. Our current $1.7B bond providing included precisely zero Russian traders. Old bonds issued in 2021 have largely been repaid and pose no subject.<\/p>\n

In any case, bondholders \u2260 shareholders \u2014 and I’m the only shareholder.<\/p>\n

\u2014 Pavel Durov (@durov) January 6, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

Ultimately, the credibility of those defenses could also be examined by whether or not TON\u2019s value recovers in 2026 and whether or not investor confidence returns to the altcoin.<\/p>\n<\/div>\n