Telegram proposes to issue $1.5 billion in bonds that will integrate Musk's xAI and receive shares and subscription shares
Editor-in-Chief: Felix, PANews
On May 29, instant messaging app Telegram will raise at least $1.5 billion through a bond issue, according to people familiar with the matter. In addition, the Telegram founder announced that a $300 million deal with Musk's xAI has been reached (which has not yet been finalized).
Driven by a flurry of positive news, the price of TON, the native token of Telegram's The Open Network, soared for a short time. According to CoinGecko data, Toncoin (TON) surged as high as about $3.7, an increase of about 23%, and is now trading at $3.32. Although Musk later clarified that the agreement had not yet been formally signed, and the price of the coin retreated, the 24-hour increase still reached 11.2%.
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