The Story of TON Coin: How It Was Created
Once upon a time — back in 2018 — the founders of the popular messaging app Telegram, led by Pavel Durov, had a big dream.
They wanted to create a decentralized internet — fast, secure, and controlled by users, not big tech companies. To do this, they planned a powerful blockchain network called TON, short for The Open Network, and a cryptocurrency called Gram.
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💸 The Big ICO — and the Big Problem
Telegram launched a huge ICO (Initial Coin Offering) in 2018 and raised $1.7 billion from private investors. People were excited — Telegram already had hundreds of millions of users, so a Telegram-powered crypto sounded promising.
But then came trouble.
The U.S. SEC (Securities and Exchange Commission) sued Telegram, saying the Gram tokens were unregistered securities. After a long legal battle, Telegram had to shut down the project in 2020 and return the money to investors.
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