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TON Foundation has secured over $400 million in token-based investments from some of the most reputable venture capital firms. Editor’s note: This article has been updated to clarify that the $400 million figure represents a token-based investment in Toncoin, not a traditional funding round and includes a statement from a TON spokeperson. According to a March 20 press release sent to crypto.news, investors include Sequoia Capital, Ribbit, Paradigm, Benchmark, and Kingsway. The investment reflects increasing institutional interest in TON’s infrastructure and its ability to scale financial applications within Telegram’s ecosystem. “These venture capital firms hold over $400 million worth of Toncoin, which is the native cryptocurrency of the TON blockchain. By ‘token-based investment,’ we mean that the funding is provided in the form of Toncoin, rather than traditional equity or cash. It’s important to note that this is not a fundraising round. Instead, these VCs are placing their bets on the future success and utility of the TON blockchain, its growing ecosystem, and its potential to provide real-world utility for crypto holdings, especially within Telegram.” -TON spokeperson TON’s close relationship with Telegram has become a major growth driver. Earlier this year, TON became the underlying blockchain for Telegram’s Mini Apps Ecosystem, allowing developers to create integrated financial services and interactive experiences for Telegram’s massive user base of over 1 billion monthly active users. This connection has generated signifcant growth that has attracted investor attention. Specifically, the press release notes the number of active accounts on the TON network has increased from 4 million to 41 million in the past year. Also, the number of Toncoin ( TON ) holders totals 121 million which is larger than the total number of Bitcoin wallet holders. TON Foundation now aims to engage 30% of Telegram’s active users — approximately 450 million people — by 2028. The strategy involves expanding decentralized finance tools, multiplayer mini-games, and in-app payment solutions, while also introducing on-chain collectibles and rewards. The $400 million token-based investment is expected to drive further growth for TON by funding user acquisition, developer incentives, and product development. As Telegram’s reach expands, TON’s position as the backbone for financial services within the platform could solidify its role as a major player in the blockchain space. “The TON team is the best in the world at the intersection of consumer product thinking and crypto infrastructure. When you combine this with the global distribution of Telegram, we’re very excited to see where they go,” said Shaun Maguire, partner at Sequoia Capital.

LG is winding down its Art Lab, allowing collectors to withdraw NFTs before its closure in June. South Korean multinational electronics tycoon LG is winding down its LG Art Lab platform, a marketplace for non-fungible tokens launched to bring digital art to its premium screens. In a Thursday announcement on its official website, the company said it made the “difficult decision to close the platform” as the NFT space “continues to evolve.” Launched in 2022, Art Lab will officially shut down on June 17. To help users transition, LG outlined two ways for collectors and artists to transfer their assets. “LG Art Lab Team will automatically transfer the assets that are currently in LG Art Lab Marketplace for re-sell to collectors own wallets by April 30,” the company said, adding that users can manually move their artworks or withdraw them from the marketplace. “While this chapter is coming to an end, our passion for digital art and innovation remains strong, and we look forward to seeing how the NFT space continues to grow and evolve.” Art Lab While the company didn’t provide specifics on why it was shutting down LG Art Lab, it still hinted at shifting priorities, saying “it is the right time to shift our focus and explore new opportunities.” We are live on Ethereum!⛓️ Discover, collect, and display digital masterpieces right from your LG Smart TV First up: @Amadon His work now available on LG Art Lab Initially available only on the Hedera network, LG Art Lab later migrated to Ethereum, though it remains unclear how much that transition impacted adoption. LG says customer support for Art Lab users will be available until July 18. The move follows LG’s broader involvement in digital innovation. In 2023, the company teamed up with metaverse firms Oorbit and Pixelynx to integrate virtual experiences directly into its smart TVs. Oorbit’s technology was described as “the thread that binds virtual worlds together,” allowing LG’s smart TV users to access AI-generated multiplayer games and virtual concerts through cloud streaming. LG has not indicated whether its metaverse ambitions will continue beyond Art Lab’s closure.

In line with a recent CNF update highlighting DeFi’s growing adoption in capital markets, institutional investors are increasingly embracing cryptocurrencies, with a significant majority planning to expand their portfolios and explore decentralized finance (DeFi). A recent survey by Coinbase and EY-Parthenon reveals that 83% of institutional investors intend to increase their crypto allocations in 2025, driven by the pursuit of attractive risk-adjusted returns: An overwhelming majority (83%) of surveyed investors plan to increase their allocations to crypto in 2025, driven by their view that cryptocurrencies represent the best opportunity to generate attractive risk-adjusted returns over the next three years. A clear majority (59%) of surveyed investors plan to allocate more than 5% of their AUM to crypto in 2025 as the asset class further cements its role in institutional portfolios. The survey highlights a growing trend among institutions to diversify their crypto holdings beyond the traditional giants, Bitcoin (BTC) and Ether (ETH). Nearly three-quarters of the firms surveyed currently hold alternative cryptocurrencies, with XRP and Solana (SOL) emerging as the most popular choices. According to Reuters, the potential approval of altcoin exchange-traded funds (ETFs) by U.S. regulators is poised to further boost institutional investment in cryptocurrencies. Asset managers are awaiting the green light from the U.S. Securities and Exchange Commission (SEC) for over a dozen proposed altcoin ETFs. Stablecoins are gaining traction among institutional investors, with 84% of respondents either holding them or considering doing so. Institutions are utilizing stablecoins for various purposes beyond facilitating crypto transactions, including generating yield (73%), foreign exchange (69%), internal cash management (68%), and external payments (63%). While only 24% of institutional investors currently engage with DeFi platforms, this figure is expected to surge to nearly 75% in the next two years. Institutions are particularly interested in DeFi use cases such as derivatives, staking, lending, access to altcoins, cross-border settlements, and yield farming. The evolving regulatory landscape is playing a crucial role in shaping institutional participation in the crypto space. The SEC has approved several Bitcoin-based commodity trust shares and trust units, signaling a more accommodating stance toward cryptocurrency investments. Importantly, this growing institutional interest in cryptocurrencies naturally extends to Bitcoin, the market’s leading digital asset. At the time of writing, Bitcoin (BTC) is trading at $83,445, reflecting a 0.06% increase in the past 24 hours and a 1.01% increase in the past week — signaling a weak but steady uptrend amid recent market fluctuations.