Latest news with #TOP
Yahoo
2 days ago
- Business
- Yahoo
Toncoin Extends Rally as Telegram Launches Integrated TON Wallet for 87M U.S. Users
Toncoin (TON) extended its impressive rally Monday after Telegram began rolling out its TON Wallet to 87 million users across the United States. The update enables seamless crypto transfers and staking directly within the messaging app's interface — with no need for external downloads, extensions, or logins. The TON Wallet, developed by The Open Platform (TOP) and built on the TON blockchain, allows Telegram users to send and receive stablecoins and other digital tokens as easily as sending a message. According to a CNBC report published Tuesday, this marks the first time a self-custodial wallet has been embedded in a mainstream messaging platform for the U.S. market. TOP CEO Andrew Rogozov said the timing reflects a more favorable regulatory climate. 'We started considering the U.S. as a more interesting opportunity for us,' he told CNBC, adding that Telegram's user growth and crypto-savvy audience helped justify the launch. To simplify the user experience, the TON Wallet employs a split-key recovery model. One part of the backup is linked to the user's Telegram account and the other to their email — removing the need for a seed phrase. 'This is how we simplify the whole thing,' Rogozov said, emphasizing the company's goal to remove friction from crypto onboarding. TON Wallet supports staking, token swaps, zero-fee purchases via MoonPay, and on- and off-ramps using debit cards. It also connects to decentralized apps through Telegram's 'Mini Apps' platform, offering a complete in-app Web3 experience. As of publication, according to CoinDesk Data, TON is trading at $3.4121, up 3% over the past 24 hours. The token has gained 12.2% over the past week and 25.6% over the past month, driven by increased usage, platform integration, and bullish investor sentiment. Technical Analysis Highlights According to CoinDesk Research's technical analysis data., TON rallied strongly during the 23-hour trading window from July 21 18:00 UTC to July 22 17:00 UTC, climbing from $3.25 to $3.58 and delivering a 10.15% intraday surge at 13:00 UTC on July 22, supported by 46.32 million units of trading volume The token broke decisively above key resistance near $3.34, expanding its trading range by $0.38 — or 11.84% — as momentum accelerated. In the final hour from 16:39 to 17:38 UTC on July 22, TON dropped from $3.53 to $3.44, shedding 2.54% amid weakening volume and forming lower peaks that signaled a short-term pullback despite strong overall bullish structure. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
3 days ago
- Business
- CNBC
Telegram's crypto wallet goes live to its 87 million U.S. users
Telegram users in the U.S. can now send, receive, and manage cryptocurrency directly inside the app — no downloads, extensions, or separate logins required. TON Wallet is built into Telegram's interface and is beginning its U.S. rollout this week. It is a self-custodial crypto wallet in which a user controls their own private keys. The service, developed by The Open Platform, which is known as TOP, and built on the TON blockchain, allows users to send stablecoins and other digital tokens to their contacts as easily as sending a message. The company says it's the first time a self-custodial crypto wallet has been embedded into a mainstream messaging platform in the U.S. market. The wallet has already seen broad international adoption, with more than 100 million users globally having activated their wallets in 2024. The U.S. launch had been delayed amid regulatory uncertainty. Andrew Rogozov, CEO of TOP, said that began to shift over the past year. "We started considering the U.S. as a more interesting opportunity for us," Rogozov told CNBC, citing a shift in regulatory conditions and Telegram's user growth. He said there are a lot of crypto users on the platform, and described the wallet as "the fundamental part of this infrastructure," giving users a way to store assets and interact with Telegram's growing ecosystem of Mini Apps. "Our goal, our mission here, is to remove as much friction as possible," Rogozov said. "And this is basically what crypto is trying to solve, especially at the global scale, by removing all the borders." A split-key backup system — one part tied to the user's Telegram account and another to their email — allows for self-custody while simplifying onboarding. "No need to download the wallet, no need to remember the seed phrase," he added. "This is how we simplify the whole thing." TON Wallet supports peer-to-peer transfers, swaps between tokens, staking to earn yield, and zero-fee crypto purchases through a partnership with MoonPay. It also provides on- and off-ramps via debit cards and connects to decentralized apps inside Telegram's "Mini Apps." Telegram formally distanced itself from the TON blockchain after abandoning its own crypto token effort in 2020 under SEC pressure. In the years since, it has continued to integrate TON-based features such as tokenized usernames, stickers, and emojis, and has publicly supported Fragment, a collectibles marketplace built on TON. TON Wallet's expansion into the U.S. could increase competition for platforms like Cash App and Coinbase, particularly if Telegram's crypto-enabled ecosystem gains traction with mainstream users. For now, the wallet avoids directly offering regulated financial services, instead partnering with licensed providers like MoonPay for on- and off-ramps.
Bangkok Post
07-07-2025
- Business
- Bangkok Post
Opec production increase expected to keep oil prices low
Global oil prices are expected to remain low this week following the decision of Opec and its allies to increase production, says Thai Oil Plc (TOP), the country's largest refiner by capacity. With the conflict between Israel and Iran easing, oil demand in China becomes a more important factor affecting global crude prices, as the mainland's manufacturing sector started to recover last month following slow economic growth, according to TOP analysts. The Texas crude oil reference price is expected to range from $60-70 per barrel this week, while the Brent crude benchmark should swing between $63 and $73 per barrel for the period. Oil price fluctuations were a major concern of the Thai government over the past several weeks, especially during the 12-day Israel-Iran war last month, as there was fear that their confrontation would escalate. If Iran closed the Strait of Hormuz, oil transport in the Middle East would be disrupted, which would drive up global oil prices. Thailand is using the Oil Fuel Fund as a buffer against a surge in crude prices. Authorities said earlier they curbed domestic oil prices by collecting fewer contributions to the fund from users of diesel, gasoline and gasohol. Oil excise tax reduction will be the next tool to control the retail oil price, but this must be done carefully as a healthy economy should focus on revenue generation, Finance Minister Pichai Chunhavajira said earlier. TOP analysts said oil prices should remain low and stable this week as Opec and its allies, known as Opec+, plan to increase oil production in August. Kazakhstan, a member of Opec+, is likely to increase its oil production after state energy companies decided to adjust production forecasts for 2025. On the demand side, in addition to the Chinese economy, the impact of US tariffs on global trade could slow oil demand, said TOP analysts. US President Donald Trump has changed the date of implementation and may announce new tariff rates on imports from many countries on Aug 1, according to media reports.
Yahoo
03-07-2025
- Business
- Yahoo
Exclusive: Telegram blockchain startup TOP raises $28.5 million as messaging platform expands crypto footprint
Crypto has a new unicorn. The Open Platform, one of the main app developers on the blockchain chosen by the messaging app Telegram, announced Thursday that it had raised a $28.5 million Series A at a $1 billion valuation. The fintech specialist Ribbit Capital led the round, with participation from the crypto VC Pantera Capital. The raise was for about 5% of equity and did not include allocations of cryptocurrency, The Open Platform founder and CEO Andrew Rogozov told Fortune. The Open Platform, which also refers to itself as TOP, has raised a total of over $70 million across multiple funding rounds, he added. TOP is one of the key companies working on apps for the blockchain called The Open Network, or TON. And that blockchain is closely associated with Telegram, one of the world's most popular messaging apps. It's a complicated mishmash of entities, but the upshot is that TOP is helping spearhead the integration of crypto into an app that boasts more than one billion users, according to Telegram founder Pavel Durov. That reach has VCs salivating. Investors at Ribbit Capital and Pantera pointed to Telegram's large user base in statements included in a press release for TOP's raise. 'The opportunity to support groundbreaking tech and financial products that reach one billion people is inspiring,' said Ryan Barney, a partner at Pantera. And they're not the only ones who are excited. In March, the TON Foundation, another entity tied to the blockchain, said VCs like Sequoia Capital, Benchmark Ventures, Draper Associates, and, of course, Ribbit had accumulated $400 million of TON's cryptocurrency. Just like the mishmash of entities involved in Telegram's chosen blockchain, the origins of TOP, TON, and Toncoin are far from simple. In 2018, Durov raised $1.7 billion after he and Telegram sold a cryptocurrency to support the development of a blockchain called Telegram Open Network, or TON. In 2019, the Securities and Exchange Commision filed to stop what it alleged was an illegal securities offering, and, in 2020, the regulator and Telegram came to a settlement. The messaging app agreed to return more than $1.2 billion to investors and pay an $18.5 million fine. While Telegram seemed to distance itself from crypto, other developers continued to work on the discarded tech behind the scenes, including Rogozov. And in 2023, Telegram anointed a new version of TON as its exclusive blockchain of choice. That same year, Rogozov incorporated TOP, according to a business registry in Abu Dhabi, where the company is based. TOP is the main developer behind TON's most prominent crypto wallet, aptly called Wallet in Telegram. Outside of the U.S. and Europe, Telegram, the app, has integrated the wallet into its main menu and is available to users in Russia, Asia, and other geographies. Rogozov plans to use the new injection of capital to expand the wallet into the U.S. and Europe. 'We need to support everything related to compliance, operations and stuff, right?' he said. 'That's very expensive to build.' He and his team also plan to use the money to incubate other TON-based projects, including blockchain games and AI applications. In TOP's Series A, Ribbit acquired about 4% of the company, and Pantera netted around 1%, Rogozov said. The company's early backers are Dubai investment firm Vy Capital and Dmitry Eremeev, a Russia-born investor. Kingsway Capital and Brevan Howard's Kevin Hu are also backers, according to the Abu Dhabi business registry. Clarification, July 3, 2025: Updated article to clarify that Kevin Hu, not Brevan Howard, is backing TOP. This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Arabian Post
03-07-2025
- Business
- Arabian Post
TOP Wallet's $28.5 Million Boost Sets Sights on U.S. and European Launch
The Open Platform, the team behind the Telegram Wallet on TON, has secured $28.5 million in a Series A round led by Ribbit Capital, propelling the company to a $1 billion valuation. The fundraising, achieved through the sale of 5% equity in traditional currency terms, positions TOP to expand its operations into the U. S. and European markets and to roll out blockchain-based games and AI-driven applications. TOP serves as the core developer for Telegram's official blockchain, The Open Network, and is responsible for creating and maintaining the Telegram Wallet, which facilitates peer-to-peer transfers within chats. The company will channel its new funds into market expansion and product development, aligning with its long-held strategy of leveraging Telegram's user base—now over a billion monthly active users—to advance the blockchain ecosystem. Ribbit Capital led the round, acquiring approximately 4–5% of TOP's equity. Other notable participants included Pantera Capital, reinforcing investor confidence in TON's growth potential. The funding arrived without any sale of cryptocurrency tokens, emphasising that the stake was purely equity-based. ADVERTISEMENT Since Telegram integrated TON in 2022, the ecosystem has witnessed rapid uptake. Metrics show active TON accounts rising from roughly 4 million to over 41 million, with more than 121 million unique Toncoin holders. Daily on-chain transactions surged from approximately 100,000 to 1.2 million, while total value locked has exceeded US $350 million. These figures underscore user engagement and the ecosystem's expanding financial activity. TOP's forthcoming initiatives include incubating blockchain-native games—both multiplayer and mini-app formats—that operate entirely on the TON chain. They will use Telegram's Mini‑App infrastructure, which is already adopted by over half a billion users. One such example is the viral 'Hamster Kombat' game, which has drawn over 300 million players and helped introduce mainstream audiences to blockchain functionality. AI-driven applications are another priority. TOP is developing tools and platforms that integrate machine learning models directly into TON-based environments, enabling chat-integrated utilities—such as fraud detection, financial analytics, and smart assistants—without departing the Telegram interface. Regulatory headwinds in the U. S. and Europe will present challenges. The SEC previously halted Telegram's launch of its native token, Gram, in 2020, leading to a refund and legal settlement. Now guided by Maximilian Crown—TON Foundation's newly appointed CEO with regulatory and compliance experience—TOP aims to navigate these complex legal environments. Crown's background at MoonPay, where he oversaw U. S. and European licensing, equips the project with added expertise as it seeks entry into compliant markets. Support from both traditional and crypto-focused investors reflects strong market confidence. Alongside Ribbit and Pantera, unicorn‐backed VCs such as Sequoia, Benchmark, and Kingsway have previously invested over $400 million in Toncoin, affirming institutional belief in TON's role as Telegram's blockchain layer. TOP's strategy reflects a broader shift within Web3—pursuing real-world use cases embedded into existing digital platforms. Using Telegram's 1 billion+ user base, BOTs, wallets, mini-apps, and secure messaging infrastructure, TOP aims to drive mass crypto adoption while sidestepping consumer-level friction. Analysts note that TOP's equity‑only raise is distinctive; contrast it with token sales that often involve community risk. By focusing on equity, TOP offers investors upside across its product stack—including wallets, DeFi tools, games, and AI utilities—without diluting with token allocation. Upcoming milestones include launching its U. S. and European operations before year‑end, unveiling its first wave of blockchain‑native games, and beta‑testing AI‑enhanced wallets and utility apps. With a valuation of $1 billion and deepening partnerships, TOP is well positioned to define Telegram's blockchain strategy beyond financial services into entertainment and artificial intelligence.
