- Cryptocurrency exchange Bitget is weighing a partnership between TON and Telegram.
- Recent findings suggest a reassessment of their collaboration.
- Telegram is caught in a web of regulatory hurdles.
Open Network (TON) has enjoyed a parabolic rise throughout the year, driven by a surge in chain activity and a wave of viral token launches. But TON’s success has come without a close partnership with the popular messaging platform Telegram. Telegram’s vast network and user base of over 900 million users have been a powerful catalyst for its explosive growth.
Questions have been raised about the sustainability of the relationship as Telegram is currently navigating significant regulatory uncertainty.
TON ‘Will we break up Telegram?’
A recently released report by cryptocurrency exchange Bitget provided insight into the TON ecosystem, highlighting its past ventures and potential future. The focus of Bitget’s research is on the close relationship between TON and Telegram, revealing both the benefits and risks associated with the relationship.
The report acknowledged that Telegram has significantly increased TON over the past few months, but highlighted that Telegram’s ongoing regulatory issues could pose a long-term threat to its ecosystem.
“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 should consider diversifying beyond its reliance on messaging platforms to ensure sustainability. He added that diversification is essential to expand the network’s user base and strengthen its ecosystem, in addition to mitigating exposure to risks related to regulatory issues.
By expanding partnerships and opening new markets, TON can create a more resilient framework that addresses Telegram’s challenges.
Telegram’s Troubled Sea
Bitget’s concerns about Telegram’s uncertain future are unfounded, as they stem from the company’s ongoing battle with regulators.
On August 24, 2024, French authorities arrested Telegram co-founder and CEO Pavel Durov on charges of promoting illegal activities on the platform. The story quickly escalated into a situation where Durov was detained for several days, sparking serious FUD across the industry.
Since his release, Durov remains detained in France under strict bail conditions. The CEO recently announced a surprising change to Telegram’s long-standing strict privacy policy, saying it would share user data with the government if necessary. This is a suspected response to growing pressure.
However, the TON ecosystem has expressed strong support for the platform despite ongoing issues, even campaigning to protect freedom of expression and the full release of the arrested CEO.
On the flip side
- Bitget and Foresight Ventures recently invested $30 million in the TON ecosystem.
- South Korea is also reportedly investigating the messaging platform on similar charges.
Why This Matters
The close partnership between TON and Telegram puts the network at a critical juncture in its ongoing regulatory challenges. Because if the latter ceases to operate, its operations may be significantly disrupted.
Read this article to learn more about the connection between TON and Telegram and the recent developments of both organizations.
TON makes USDT more accessible to millions of Telegram users.
Learn more about Telegram’s recent privacy policy changes in this article:
How Telegram sharing user data with the government affects you