{"id":155017,"date":"2023-09-13T14:11:20","date_gmt":"2023-09-13T08:41:20","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=155017"},"modified":"2023-09-13T14:11:20","modified_gmt":"2023-09-13T08:41:20","slug":"telegram-gets-a-crypto-wallet-3-years-after-sec-pumped-the-brakes-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/telegram-gets-a-crypto-wallet-3-years-after-sec-pumped-the-brakes-crypto-news\/","title":{"rendered":"Telegram Gets a Crypto Wallet\u20143 Years After SEC Pumped the Brakes – Crypto News"},"content":{"rendered":"
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The Open Network Foundation (TON Foundation) unveiled a partnership with messaging app Telegram on Wednesday, taking The Open Network (TON) closer to its spiritual roots as it launches a self-custodial crypto wallet for the chat platform\u2019s users.<\/span><\/p>\n

The TON Foundation said that its self-custodial digital wallet, TON Space, has launched on Telegram and is now available to the chat platform\u2019s approximately 800 million users. In addition, the Foundation said that projects built on TON will get priority access to the messaging app\u2019s advertising platform, Telegram Ads.<\/span><\/p>\n

The wallet feature is currently accessible in Telegram\u2019s settings, a TON spokesperson said, and a global rollout will begin in November, \u201cexcluding the U.S. and some other countries.\u201d<\/span><\/p>\n

TON, a proof-of-stake blockchain platform, was <\/span>ditched<\/span><\/a> by Telegram in 2020. It was slated to go live after two-and-a-half years of work on the platform, but Telegram\u2019s involvement was cut short by a lawsuit from the United States Securities and Exchange Commission (SEC).<\/span><\/p>\n

The SEC sued Telegram in 2019 over $1.7 billion raised via the project\u2019s initial coin offering (ICO) through a token called Grams. An alleged offering of unregistered securities, Telegram settled with the SEC, paying back investors any unspent funds along with a $18.5 million fine.<\/span><\/p>\n

A refund was already in the works: Telegram had promised to return funds to users if the platform didn\u2019t go live by a <\/span>certain date<\/span><\/a> in the spring of 2020.<\/span><\/p>\n

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Similar to Tesla owner Elon Musk\u2019s ambitions for Twitter (or X) as both a payments and media app, Telegram co-founder Pavel Durov envisioned TON as a way to send crypto within chats and monetize the messaging app.<\/span><\/p>\n

In a 2020 <\/span>blog post<\/span><\/a>, which officially said that \u201cTelegram\u2019s active involvement with TON is over,\u201d Durov warned of other crypto projects co-opting TON\u2019s name and tech. He said then that the firm was \u201cunlikely to ever support them in any way,\u201d making Wednesday\u2019s move an apparent about-face.<\/span><\/p>\n

Community organizations emerged to keep the dream behind TON alive in Telegram\u2019s wake, including organizations like FreeTon, NewTON, and the <\/span>TON Chinese Community<\/span><\/a>.<\/span><\/p>\n

Telegram’s Chief Investment Officer John Hyman said giving users ownership of their identities and assets aligns with the company\u2019s beliefs toward free speech.<\/span><\/p>\n

\u201cWith this partnership, we are putting digital ownership rights in the hands of our entire user base,\u201d Hyman said in a statement. \u201cTelegram’s mission has always been to enable freedom of speech, but speech is so much more in this digital age.\u201d<\/span><\/p>\n

TON Foundation announced last week that it\u2019s <\/span>settled down<\/span><\/a> in Switzerland, where the organization is now registered as a nonprofit. Steve Yun, president of TON Foundation, spoke to the synergistic elements of TON and Telegram\u2019s collaboration in a written statement.\u00a0<\/span><\/p>\n

\u201cTON ecosystem strives to provide a simple and intuitive user experience akin to that of the popular social applications, like Telegram,\u201d he said. \u201cSharing the same DNA, we invite all builders to join our journey to mass adoption.\u201d<\/span><\/p>\n

Around the time Telegram withdrew from TON\u2019s development, the app had close to <\/span>400 million users<\/span><\/a>. Since then, according to statistics provided by TON Foundation, Telegram has doubled that tally and it\u2019s currently one of the top 10 most downloaded apps in the world.<\/span><\/p>\n

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Stay on top of crypto news, get daily updates in your inbox.<\/h3>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Open Network Foundation (TON Foundation) unveiled a partnership with messaging app Telegram on Wednesday, taking The Open Network (TON) closer to its spiritual roots as it launches a self-custodial crypto wallet for the chat platform\u2019s users. The TON Foundation said that its self-custodial digital wallet, TON Space, has launched on Telegram and is now […]<\/p>\n","protected":false},"author":2,"featured_media":155018,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-155017","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/155017","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=155017"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/155017\/revisions"}],"predecessor-version":[{"id":155023,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/155017\/revisions\/155023"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/155018"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=155017"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=155017"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=155017"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}