- Crypto exchange Bitget weighs in on TON’s affiliation with Telegram.
- Recent findings suggest a re-evaluation of the collaboration between the two.
- Telegram is stuck in a web of regulatory hurdles.
The Open Network (TON) has enjoyed a parabolic rise all year, propelled by a surge in chain activity and a wave of viral token launches. However, TON’s success has not been without its close affiliation with popular messaging platform Telegram, whose vast network and over 900 million user base has been a powerful catalyst for its explosive growth.
With Telegram now navigating severe regulatory uncertainty, the longevity of the relationship has come into question.
Will TON ‘de-Telegram-ize?’
A recently published report by crypto exchange Bitget has offered insight into the TON ecosystem, spotlighting its past ventures and potential future. A focal point of Bitget’s research concerns TON’s close ties to Telegram, revealing both the benefits and risks associated with the relationship.
Sponsored
While the report acknowledged Telegram’s significant boost to TON over the past months, it highlighted that the former’s ongoing regulatory issues might pose a threat to the ecosystem in the long-run.
“The regulatory environment surrounding Telegram could pose significant challenges for TON's ecosystem, potentially affecting its global expansion and adoption,” stated the report, adding that “there will likely be a trend towards "de-Telegramization" to mitigate regulatory risks.”
Bitget emphasized that TON must consider diversifying beyond its dependency on the messaging platform to ensure its sustainability. Beyond mitigating exposure to risks associated with the regulatory troubles, it added that the diversification is also essential for broadening the network’s user base and enhancing its ecosystem.
By expanding its partnerships and exploring new markets, TON can create a more resilient framework that steers away from Telegram’s challenges.
Telegram’s Troubled Waters
Bitget’s concerns about Telegram’s uncertain future are not unfounded, as they stem from its ongoing struggles with regulatory authorities.
On August 24, 2024, French authorities arrested Telegram co-founder and CEO Pavel Durov over allegations of enabling illegal activities on the platform. The saga quickly escalated into the detention of Durov for several days, stirring severe FUD across the industry.
While Durov has since been released, he remains confined and on strict bail conditions in France. The CEO has also recently announced a surprising change to Telegram’s long-standing strict privacy policy, revealing it will share user data with governments if the need arises-a move suspected to be in response to mounting pressure.
However, the TON ecosystem has voiced strong support to the platform amidst the ongoing troubles, even launching a movement advocating for the protection of freedom of expression and the complete release of the arrested CEO.
On the Flipside
- Bitget and Foresight Ventures recently made a $30 million investment into the TON ecosystem.
- South Korea is also reportedly probing the messaging platform on similar allegations.
Why This Matters
The close affiliation between TON and Telegram does position the network at a critical juncture in the ongoing regulatory saga, as any disruption to the latter’s operations could significantly disrupt its operations.
Read this article for more about TON’s link with Telegram and recent developments by both entities:
TON Makes USDT More Accessible for Millions of Telegram Users
Find out more about Telegram’s recent privacy policy change in this article:
How Telegram Sharing User Data with Governments Affects You
