Bitget Announces $20 Million TON Ecological Fund Jointly Launched with Singapore Investment Company Foresight Ventures
Bitget, a leading global cryptocurrency exchange and Web3 company, has announced the joint launch of a $20 million TON Ecological Fund with Singapore investment company Foresight Ventures. The fund aims to support early-stage projects built on The Open Network (TON), highlighting both parties’ commitment to promoting innovation and development within the TON ecosystem.
The Open Network (TON) has garnered significant attention recently, with its price reaching an all-time high. According to Delphi Digital’s report, TON’s daily active addresses have surpassed Ethereum due to Telegram’s massive user base of 900 million, thus driving the growth of the TON ecosystem.
The Total Value Locked (TVL) in the TON ecosystem has increased more than fivefold in the past two months, reaching $600 million. This growth is attributed to the influx of new projects and assets such as STON.fi, DeDust.io, and TON-USDT. According to Tether’s official transparency page, the authorized issuance of USDT on the TON blockchain has grown to approximately $580 million, making it the sixth-largest USDT issuance blockchain after TRON, Ethereum, Solana, Avalanche, and Omni.
The $20 million TON Ecological Fund aims to fully support the development of projects within the TON ecosystem. Leveraging Telegram’s massive user base, Bitget remains aligned with its vision to promote widespread adoption of cryptocurrencies and create a fairer future through crypto evolution. The fund will actively seek and support promising projects, providing them with the necessary liquidity to thrive on the Bitget platform.
Gracy Chen, CEO of Bitget, stated, “Following the launch of the Telegram trading signal bot by Bitget in May, Bitget continues to innovate through the TON Ecological Fund. As an extension of the Bitget ecosystem, Bitget Wallet has integrated with the TON mainnet and added support for TON Connect, allowing users to easily connect to TON-related dApps. In addition, Bitget Wallet has also launched the Tap2Earn section, featuring a range of popular Tap2Earn projects within the TON ecosystem.”
About Bitget
Founded in 2018, Bitget is a world-leading cryptocurrency exchange and Web3 company. Bitget currently serves over 25 million users in more than 100 countries worldwide, aiming to empower users to trade smarter through its innovative copy trading feature and other trading solutions.
Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain cryptocurrency wallet that provides a comprehensive range of Web3 solutions and features, including wallet functionality, exchange, NFT marketplace, and DApp browser. Bitget encourages the adoption of cryptocurrencies through partnerships with Argentine soccer legend Lionel Messi, official esports organization PGL, and more.
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