The TON Foundation and Kingsway Capital Partners are going to raise $400 million to start a public treasury firm that will collect Toncoin, the Telegram Open Network’s (TON) native token. CryptoSlate stated on July 24, 2025, that this project is based on successful crypto treasury models like MicroStrategy’s Bitcoin strategy, which saw its stock rise by more than 3,400% in five years.
The government will use a private investment in public equity (PIPE) structure, which will allow some investors to buy shares at a discount before they go public. This funding initiative might be executed through a special purpose acquisition company (SPAC). This action shows that institutions have a lot of faith in Toncoin, which is presently the 21st largest cryptocurrency with a market worth of about $8 billion.
At the same time, Telegram has made its native TON Wallet available to 87 million US users, which is a big step toward getting a lot of users. This self-custodial wallet, which came out in July 2025, allows users transfer, receive, and handle Toncoin and stablecoins like USDT right in the Telegram app.
This integration makes Toncoin easier to use by taking advantage of Telegram’s large user base. This makes it a major player in decentralized finance (DeFi), and the launch of the wallet fits with the TON Foundation’s two-pronged goal to reach both institutional investors and regular users, which might lead to growth in the ecosystem.
After the treasury statement, Toncoin’s price went up a little bit, by 2%, to $3.16. Its market cap reached $7.68 billion. However, trading volume fell by around 20%, which shows that investors are being careful because the market as a whole is having problems, especially Ethereum’s recent pullbacks.
The MACD shows signs of early positive momentum, while the RSI at 57.43 shows modest buying pressure without being overbought. The main resistance level is $3.30, and the main support levels are $3.10 and $3.05. Some predictions say that the price could drop to $2.35-$2.39 by December 2025, but if people keep using it, the price could go back up.
The treasury effort, established with the help of Cohen & Co. and currently attracting interest from Cantor Fitzgerald, is part of a growing trend of crypto treasury firms. Companies like SharpLink Gaming and BitMine have used similar concepts for Ethereum, and more than 100 more companies have done the same since MicroStrategy’s success.
The TON Foundation’s shift in strategy from past issues, such as the UAE Golden Visa plan, puts more emphasis on institutional credibility and long-term value. Toncoin is ready to improve its position in the changing world of cryptocurrencies thanks to Kingsway Capital’s knowledge and Telegram’s large customer base.
