Pantera Capital Invests In The Blockchain Project Of Telegram

Pantera Capital's founder, Dan Morehead, recently disclosed to PANews that his company has invested its most substantial amount to date in the TON blockchain project, which is operated by Telegram. Nevertheless, the precise sum of the investment remained undisclosed. Morehead recounted his encounter with Pavel Durov, the founder of Telegram, during lunch, stating that Durov's unadulterated and resolute conviction profoundly impacted him.

At the age of 21, Durov and his brother Nikolai established VK, which is regarded as the "Facebook of Russia." Prominent for its exceptional functionality and autonomy from Russian media influence, the platform is extensively employed by the Russian opposition to coordinate demonstrations. In 2013, in response to governmental pressures for censorship and the prohibition of specific online opposition communities, Pavel and Nikolai established Telegram, an application founded on the tenets of freedom, transparency, and expression. Morehead regarded it as a privilege to collaborate with individuals who possessed such resolute convictions.

Additionally, 99.999% of blockchain initiatives, according to Morehead, are attempting to construct communities from the ground up using technical concepts. As of now, CoinMarketCap data indicates that the number of cryptocurrencies in circulation exceeds 23,000, presenting a formidable obstacle for the majority of projects. Nevertheless, the process of integrating blockchain technology into Telegram's existing community will be considerably streamlined.