Insider: Pantera invested in TON tokens at 60% of the market price in May, with a one-year lock-up period

On August 29th, according to Bloomberg, venture capital firms that have invested in Toncoin (usually signing an agreement not to sell for at least one year) are now trying to assess whether France's actions against Pavel Durov will cause users to flee Telegram. An insider revealed that Pantera bought TON at a price 40% lower than the market price. Due to confidentiality clauses, this insider requested anonymity. Based on the average price of $6.32 announced during the transaction in May, this investment can still easily make a profit. The insider also disclosed that Pantera's lock-up period is one year, after which it can sell TON in batches over several years. In addition, Bloomberg reported that Pantera said Toncoin was its largest investment but did not disclose the specific amount. The TON Foundation stated in an email that it has never raised funds before. Animoca Brands did not comment on its investment and Mirana Ventures did not immediately respond to inquiries. Previous reports stated that Pantera Capital announced its investment in TON on May 2nd of this year; founder Dan Morehead said it was the largest scale investment ever made by the fund into Telegram’s TON blockchain project with analysts estimating their investments would exceed $250 million.