Coinbase Ventures Backs Telegram-Linked Toncoin Blockchain

Coinbase Ventures has invested in Toncoin, the native asset of The Open Network blockchain, which underpins Telegram's web3 infrastructure. The investment is a long-term venture investment in TON. The TON Foundation has named Sequoia Capital, Benchmark, and Ribbit Capital among its early backers, with other institutional supporters including Pantera Capital, Ryze Labs, and Animoca Brands.

Title: Coinbase Ventures Invests in Toncoin, The Open Network's Native Asset

Coinbase Ventures, the investment arm of the U.S. crypto exchange Coinbase, has made a strategic long-term venture investment in Toncoin, the native asset of The Open Network blockchain. This investment underscores the growing interest and confidence in TON's potential to integrate blockchain technology with social media, particularly through its partnership with Telegram.

TON, which stands for The Open Network, is a blockchain project that aims to bridge the gap between social media and blockchain technology. By leveraging Telegram's massive user base of over 1 billion people, TON offers easy access to web3 services such as payments, gaming, and NFTs. The integration with Telegram provides a pre-built distribution channel, reducing the friction typically faced by new blockchain projects in onboarding users.

The TON Foundation revealed the investment on Monday, August 11, 2025, in an announcement on X. Coinbase Ventures purchased Toncoin tokens directly from Telegram, bypassing secondary markets and intermediaries. This direct acquisition highlights the strategic nature of the deal and the symbolic importance of Coinbase Ventures' involvement in the project.

While the exact size of the transaction and the date of finalization remain confidential, the investment is seen as a significant endorsement from one of the most prominent venture investors in the crypto industry. Coinbase Ventures' participation could signal that more traditional investment firms might follow suit, especially in Western markets where Telegram's integration with cryptocurrencies is not as prominent as in Asia and Eastern Europe.

The deal aligns with TON's strategy to create a user-friendly environment for blockchain tools, which has helped it become a market leader in socially integrated web3 adoption. The investment also underscores the growing institutional faith in TON, with other major backers including Sequoia Capital, Benchmark, and Ribbit Capital. These firms have collectively poured hundreds of millions of dollars into the project.

Recent months have seen a series of large TON-related announcements. Last week, Nasdaq-listed Verb Technology announced a $558 million private placement in partnership with Kingsway Capital to become the first publicly traded firm to hold Toncoin as its primary treasury reserve asset. The company plans to rebrand as TON Strategy Co.

The TON Foundation is also seeking to create a crypto treasury company for Toncoin, aiming to hold at least $400 million in Toncoin. This move further underscores the project's ambition to leverage Telegram's extensive user base for blockchain adoption.

While the investment terms remain undisclosed, analysts suggest that Coinbase's move could pave the way for deeper U.S. institutional participation in TON, especially if the network continues to integrate seamlessly with Telegram's one billion-plus monthly active users.

In summary, Coinbase Ventures' investment in Toncoin represents a significant vote of confidence in TON's ability to bridge mainstream social networking with blockchain-based services. The deal highlights the growing interest and potential of TON as a project that could revolutionize the way blockchain technology is adopted and integrated into social media platforms.

References:
[1] https://www.cryptopolitan.com/coinbase-ventures-takes-stake-in-ton/
[2] https://crypto.news/ton-foundation-reveals-coinbase-ventures-invested-in-toncoin/
[3] https://www.theblock.co/post/366414/coinbase-ventures-buys-ton-tokens-directly-from-telegram-says-ton-foundation-exec