The post TON Foundation clarifies $400M fundraising reports, says it is TON held by US-based VCs appeared on BitcoinEthereumNews.com.

A day ago, several reports claimed that TON had secured $400M in funding from elite VCs, sparking a potential strategic pivot in the L1 race. Various accounts on X, formerly Twitter, shared the news after misunderstanding a previous post by the TON Foundation X account.  The post created a false impression that sent the TON token surging by about 8% before it stabilized. The news has now been debunked by the TON official X page, which provided clarification earlier today. pic.twitter.com/FKVPbwgb9c — TON 💎 (@ton_blockchain) March 21, 2025 TON clears the air According to TON’s X page, the reports from some news outlets claiming the TON Foundation “raised” $400 million is untrue. Contrary to reports from some news outlets, TON Foundation has not “raised” $400 million. Instead, the Foundation has disclosed that over $400 million in Toncoin is held by some of the world’s most forward-thinking US-based venture capital firms. — TON 💎 (@ton_blockchain) March 21, 2025 “Instead, the Foundation has disclosed that over $400 million in Toncoin is held by some of the world’s most forward-thinking US-based venture capital firms,” the statement read. The fact that Toncoin is being held in massive amounts by forward-thinking VC firms in the US is in itself a flex for the project, reflecting investor confidence in the ecosystem. However, it’s not the same as direct fundraising. In the comment section of TON’s clarification post, many users praised the team for ending the confusion, while others reaffirmed their bullish sentiments, making it clear the little misunderstanding has not changed how they feel about Toncoin. Of course, there were also some who wanted to know who planted the rumor in the first place and also those who suspected foul play, as the clarification came about a day after the news had spread and caused a…

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Filed under: News - @ March 21, 2025 11:27 pm