bullish
TON Coverage Part 1: TON + Telegram = Path to 1 Billion Web3 Users?
SUMMARY
- The world is currently focused on France's actions against Telegram and Durov, but this is not the first time Telegram and TON have faced governmental scrutiny. In 2014, the Durovs were forced to sell their social media company VK after refusing the Kremlin's request to censor content. Then, in 2018, Telegram was partially blocked in Russia for its refusal to provide decryption keys to the FSB.
- Durov and Telegram have a long-standing commitment to freedom of speech, privacy, and decentralization, which has naturally led them to crypto and the creation of TON. In 2020, Telegram settled with the SEC for $18.5 million and returned $1.22 billion raised through an ICO for TON development.TON became a community project operated by TON Foundation.
- Our analysis suggests that the Durov brothers are crucial to the commercial relationship between TON and Telegram, playing key roles in decision-making for both entities. Consequently, Toncoin's value is heavily dependent on Telegram as a user acquisition channel, making it vulnerable to external pressures, such as France's recent actions.
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