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Pantera, one of the largest crypto venture capital firms, reportedly invested over $100m in Telegram-linked Toncoin earlier this year, marking it as its largest investment to date.

Bloomberg reported on Thursday that Pantera bought Toncoin at a 40% discount from the market price. Considering the average price at $6.32 in May, when the deal became public, the investment remains profitable.

However, Pantera must hold onto its Toncoin investment for one year before it can start selling off portions of it over several years.

How is Ton associated with Telegram? The messaging service integrated Toncoin’s TON blockchain into its app, allowing users to access blockchain features. As a result, users can can buy, sell and trade Toncoin directly within Telegram.

Moreover, a wallet integration enables users to conduct transactions, tip others and engage in additional blockchain activities all within the app.