I know I've been criticized for my position on Telegram's CEO, Pavel Durov...
But look, nothing personal. I even bought TON and DOGS recently... Not a financial advice.
Why TON could be a black swan
Let's put aside the controversy surrounding Telegram's founder and take a cold, hard look at the financial situation. Telegram's got a mountain of debt - $2.4 billion to be exact - and it's due in 2026. That's a ticking time bomb, and Durov's arrest has only amplified the uncertainty.
Now, let's connect the dots. Big crypto players like Pantera Capital have poured $100 million into Toncoin (TON), the native coin of the Telegram's blockchain - "The Open Network". They were betting on Telegram's success to fuel Toncoin's growth. But with Durov's legal troubles and Telegram's financial woes, that bet looks increasingly risky.
So, what does this mean for TON? Well, if Telegram struggles to pay its debts or faces further legal challenges, TON could take a serious hit. Investors might panic, leading to a sell-off and a further price drop. And let's not forget the broader implications. If TON crashes, it could shake confidence in other crypto projects tied to VCs and companies.
So we can wonder what Pantera and the other VCs will do... Will they divest from TON and invest more into other coins, or will they progressively sell all their crypto assets like Jump Crypto? Just have a look at Pantera portfolio in the resources (link) below... You just have to look up, all the info is public.
Could this actually be an opportunity?
Despite the initial shock, TON has shown remarkable resilience after Durov's arrest. And let's face it, Durov is unlikely to end up behind bars. He'll likely negotiate some sort of information-sharing deal with French and US authorities. This whole ordeal could end up being a bizarre, twisted form of advertising for Telegram and its TON blockchain. It's the kind of controversy that grabs headlines and gets people talking.
And who knows? Maybe we'll even see a surge in Telegram's native meme coins like DOGS. Look at Tron – Justin Sun has faced his fair share of criticism, yet Tron's TRX and meme coins like SUNDOG have pumped. It's a crazy world, and sometimes controversy breeds opportunity in the crypto space.
