Insider: Pantera invested in TON tokens at 60% off the market price in May, with a 1-year lock-up period

BlockBeats news, August 29, according to Bloomberg, venture capital institutions that invested in Toncoin (usually signed an agreement not to sell for at least a year) are now trying to assess whether France's move against Pavel Durov will cause users to flee Telegram.

People familiar with the matter said that Pantera bought TON at a price 40% below the market price at the time. Because the terms are confidential, the person familiar with the matter requested anonymity. Based on the average price of $6.32 when the transaction was announced in May, the investment can still be easily profitable. The person familiar with the matter also revealed that Pantera's lock-up period is one year, after which it can sell TON in batches over a few years.

In addition, Bloomberg said that Pantera called Toncoin its largest investment, but did not disclose the specific amount. The TON Foundation said in an email that the foundation has never raised funds. Animoca Brands did not comment on its investment, and Mirana Ventures did not immediately respond to inquiries.

BlockBeats previously reported that Pantera Capital announced its investment in TON on May 2 this year. Founder Dan Morehead said that its investment in Telegram's TON blockchain project was the largest investment in the fund's history. Some analysts said that the investment amount will be at least more than 250 million US dollars.