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On May 4, 2026, Pavel Durov stated that Telegram would take over the main development of The Open Network (TON) and operate its biggest validator node.

Summary

This announcement marks the third milestone in a seven-part plan to improve the TON network. Transaction fees have been dramatically reduced – falling six times to around $0.0005, and are now consistent even during peak times. As a result, the value of Toncoin increased from $1.30 to $1.80 in just one day, and continued to climb to $2.151 over the week, accompanied by $191.83 million in staking activity in a single day. These changes represent a substantial and positive shift for the network.

Back in May 2020, the SEC made Telegram give back $1.22 billion to investors in its Gram token project and pay an $18.5 million fine, effectively ending the original Telegram Open Network. Now, with plans for 2026, Telegram is re-entering the blockchain world, but this time with a much larger user base of 950 million and under new regulations.

Here’s a breakdown of what occurred, the reasons behind the timing, what people aren’t considering in the discussion about centralization, and how this change impacts both the TON network and the future of making cryptocurrency accessible to everyday users.

What Durov actually announced

Understanding exactly how the announcement on May 4th was made is important because it clarifies what was updated and what remained unchanged.

On May 4, 2026, Pavel Durov announced on X that Telegram would take over the main responsibility for The Open Network, currently managed by the TON Foundation in Switzerland. Telegram will also become the biggest validator on the network, providing more infrastructure and staked tokens than anyone else. Durov described this change as the third step in a seven-part plan he’s calling MTONGA, which stands for “Make TON Great Again.”

This announcement is the third in a series of improvements to the MTONGA network. Previously, they upgraded the protocol to Catchain 2.0 on April 9, 2026, significantly speeding up transactions – from about 2.5 seconds per block to 400 milliseconds, and reducing finalization time from around 10 seconds to almost one. They also simplified transaction fees, setting a standard cost of 0.00039 TON (around $0.0005) regardless of how busy the network is. Following the validator takeover, the remaining plans include new tools for developers, an updated website, TON Pay 2.0 for easier in-app payments, and the TON Teleport bridge, which will integrate Bitcoin into the network.

As a researcher tracking the cryptocurrency market, I observed a very quick reaction to recent events. Toncoin started trading around $1.30 on May 4th, and within just 24 hours, it jumped to $1.73. By May 5th, it had reached $1.80, and over the following week, it peaked at $2.151. That means TON saw gains of over 61% in one week and nearly 70% over the past month. This price increase happened alongside a significant surge in staking – we saw $191.83 million flow in on a single day, the most in almost four months. We also noticed $7.17 million in short liquidations, indicating that many traders who bet against Toncoin were caught by surprise.

The website for ton.org, previously managed by the TON Foundation, now shows a message indicating it’s under the control of MTONGA and will soon be updated. This isn’t just a cosmetic change; it marks a significant shift in how the project is run. The TON Foundation, which had been leading development since 2021 after Telegram initially stopped working on the project, is being replaced. Telegram is now taking over as the main operator and will also provide the most significant resources for the network.

The announcement didn’t completely shut down the TON Foundation. It still has a $400 million investment deal in progress and continues to hold a large amount of TON tokens and other resources. While the Foundation’s future role is uncertain, Telegram’s involvement now means it will likely play a supporting role in the direction and growth of TON, rather than being the main driving force.

The next big decision for the community is a vote in June 2026 about inflation, which will set how many new tokens are created in the future. This vote is important because it will show how the new team, led by Telegram, makes decisions compared to the previous Foundation.

The 2020 SEC defeat and why this is a reversal

If you’re curious about why people are talking about a potential Telegram takeover in 2026, you really need to know what happened with their original blockchain project, the Telegram Open Network, back in 2020. It’s all connected, and understanding that history is key to understanding what could happen next. As an investor, I’ve been digging into it, and it’s a pretty important backstory.

Pavel and Nikolai Durov started working on TON back in 2018. They raised around $1.7 billion through private sales of “Gram” tokens, intended to be the network’s currency. Investors, including large funds from the US and around the world, anticipated receiving these Gram tokens once TON was up and running.

In October 2019, the Securities and Exchange Commission (SEC) sued Telegram, claiming their sale of Gram tokens violated securities laws because they weren’t properly registered. A New York court then issued a temporary order in March 2020 that stopped Telegram from distributing the tokens anywhere in the world. This effectively ended the project, as Telegram couldn’t fulfill its promises to investors and the cost of continuing the legal fight was too high and the outcome too uncertain.

As an analyst following the crypto space, I remember the fallout from Telegram’s attempt to launch the Gram token quite clearly. Back in May 2020, they reached a settlement with the SEC, which meant they had to give $1.22 billion back to investors and pay an $18.5 million penalty. Shortly after, Pavel Durov announced on his blog that the TON project – the blockchain Telegram had spent two years and $1.7 billion developing – was effectively shut down. It was a significant loss for those involved and a notable moment in the early days of blockchain fundraising.

Things became complicated after the initial development. While the TON blockchain was built and working, Telegram had to separate from the project. A group of independent developers stepped in and took over, officially establishing the TON Foundation in Switzerland in 2021. For about four years, this community-run TON operated separately from Telegram, steadily developing its infrastructure, tools, and overall ecosystem.

Telegram and the TON network have grown closer over time. The TON Foundation made it clear that TON was designed to work *with* Telegram, not be run *by* it. Telegram then added features like TON Connect, which lets users securely connect their digital wallets, and Mini Apps powered by TON. In 2024 and 2025, Telegram officially named TON as its primary blockchain partner, increasing their connection even further while still allowing TON to operate independently.

The agreement coming in May 2026 will fundamentally change the relationship between Telegram and TON. Telegram won’t simply be supporting or working with TON anymore; it will be directly managing the project. Interestingly, the same group the SEC pressured to step away in 2020 is now leading TON six years later. This turn of events highlights how changes in regulations can unexpectedly reshape the crypto landscape, with outcomes different from what the initial enforcement actions intended.

The Securities and Exchange Commission (SEC), now led by Chair Paul Atkins, is handling crypto much differently than it did under previous leadership. They’ve significantly reduced the number of enforcement actions, dropping or settling many cases. The SEC has also approved exchange-traded funds (ETFs) for cryptocurrencies like XRP, DOGE, and SOL, which were previously restricted. New legislation, like the GENIUS Act which created rules for stablecoins, and the CLARITY Act currently moving through Congress with support from both parties, are further changing the landscape. This shift means projects like TON, which Telegram couldn’t launch in 2020 due to regulations, are now realistically possible.

The 2026 takeover is important because it signals a major shift in how regulators view crypto. It’s not simply a change in how one blockchain is run; it suggests that companies can now seriously consider integrating crypto into their services without fear of immediate legal action. If Telegram can operate TON openly without facing penalties from the SEC, it opens the door for other large tech companies to explore similar strategies. This takeover is therefore significant for the entire crypto landscape, not just for TON.

Why Telegram is taking control now

There are three key reasons why the announcement happened in May 2026, and knowing these reasons clarifies that this event is separate from the general excitement around Telegram’s support for TON.

The shift in the regulatory landscape is the key factor here. The SEC’s loss in 2020 occurred under a different set of enforcement rules than exist today. Now, with the current SEC’s approach, the GENIUS Act, the potential CLARITY Act, and the Trump administration’s overall stance on crypto, it’s now structurally possible for companies to directly participate in blockchain technology. Telegram was unable to launch its TON blockchain in 2020, but could do so in 2026. This isn’t due to changes in the technology itself or the underlying business idea; it’s because of the evolving regulatory environment.

The TON Foundation, while successfully building the network and community between 2021 and 2026, faced challenges common to decentralized organizations – limited funding, slow development, and governance hurdles. These issues resulted in occasional network congestion, slow updates, and difficulties for developers, which weren’t critical but hindered Telegram’s vision for a large-scale crypto platform. The new MTONGA plan aims to fix these problems by speeding up development and providing direct support from the core team.

Pavel Durov recently announced on X that Telegram will now directly lead the development of TON, instead of waiting for the TON Foundation. This means Telegram is prioritizing speed, shifting from a slower, foundation-led approach to a faster, corporate-driven one. This change centralizes decision-making to achieve quicker results. Whether this is a good thing ultimately depends on your priorities for how a blockchain project should be governed, but the reasoning behind the shift is clear.

As a crypto investor, I’m watching how different blockchains are trying to become the go-to for everyday users. Solana is focusing on speed, Sui wants to be the leader in payments, and Hyperliquid is doing well with derivatives. There’s still a chance for a blockchain to really nail the consumer app and payment space, but that window is closing fast. What’s really exciting is Telegram – with over 950 million users, they have a massive built-in audience. By directly controlling TON, Telegram can quickly roll out features like improved payments (TON Pay 2.0), mini-apps, and in-app stablecoin payments before someone else grabs that opportunity. It’s a huge advantage they can’t afford to waste.

Several factors converged to make May 2026 the ideal time for this change. Regulations had become favorable enough to allow the acquisition, the initial phase of the Foundation had run its course, and there was still an opportunity to establish a strong position in the consumer crypto market before it became too competitive. Additionally, the MTONGA roadmap had gained significant traction with updates like Catchain 2.0 and reduced fees, making the validator takeover a natural progression.

This takeover wasn’t a quick decision; it’s the result of several years of gradual work to bring these two entities together. The partnership announced in 2024-2025, making TON Telegram’s primary blockchain, was the first step. Then, the technical updates and reduced fees in April 2026 prepared the way. The recent validator change in May simply makes official a relationship that’s been growing stronger for quite some time.

The centralization debate that everyone is having

The biggest concern about Telegram’s recent changes is that it’s becoming more centralized, and this issue needs to be discussed in more detail than it currently is in most reports.

The main concern is simple: having a single company, Telegram, in charge of creating blocks on the network makes it a likely target for regulators. This centralization creates several problems. If Telegram’s servers go down, the network is affected. If regulators take action against Telegram, the network is also at risk. And if Telegram’s goals don’t align with what’s best for the network, there’s little the network can do about it. This significantly undermines the idea of decentralization, which has always been a core value in the crypto world.

Durov explained in a recent post that Telegram becoming a major validator for TON actually boosts the network’s decentralization. This is because it encourages other large companies to also become validators. If Telegram is so publicly invested in TON, other big players – like exchanges and institutions – are more likely to participate, knowing the network is built to last. Essentially, Telegram acts as a check to prevent any single entity from controlling the network.

Both sides of the argument have merit. There are legitimate concerns about the network’s structure, as having one company control a large portion of the validation process is significantly different from a more decentralized system. Regulatory risks are also genuine, as seen with Telegram’s legal challenges. And while currently under control, there are real operational risks to consider.

While some worry about the potential downsides of Telegram taking over governance of the TON network, it’s important to remember that the previous system wasn’t truly decentralized either. The TON Foundation had a lot of control over how the network was developed, who validated transactions, and where the ecosystem was headed. Calling that period ‘decentralized’ was more of a goal than a complete reality. So, this change isn’t about moving from decentralization to central control – it’s simply a different approach to governance.

The biggest concern now is the legal risk Telegram faces. Pavel Durov, Telegram’s founder, is currently under formal investigation in France for potential involvement in crimes related to the platform. He could face up to 10 years in prison and over $550,000 in fines if found guilty. This case is still ongoing. While a travel ban against Durov was lifted in November 2025 after a year of adherence to certain conditions, the investigation continues. A negative outcome in the French case, or similar legal action in other countries against Telegram or Durov himself, could significantly impact the TON blockchain.

This highlights the core problem with centralization. A blockchain run by an independent group is protected from the legal troubles of any one person. However, a blockchain controlled by a company whose CEO is under criminal investigation directly shares in that legal risk. Now, any legal issues facing Durov are closely tied to the operational stability of TON, more so than they were previously.

TON holders should be aware that the value of their asset is now tied to the legal risks faced by Telegram’s leadership, particularly Pavel Durov. While Telegram’s support is boosting the price, it also introduces these new legal concerns. Previously, under the Telegram Foundation, these two things – price and legal risk – were separate, but now they’re directly connected.

The debate about whether TON is centralized is actually missing the bigger picture. It *is* centralized, perhaps even more so recently. The real question isn’t *if* it’s centralized, but whether the benefits of that centralization – like faster performance – outweigh the risks it creates. People can reasonably have different opinions, but it’s important to consider both sides of the argument fairly, instead of focusing on just one perspective.

What MTONGA actually delivers

The plan for MTonga is more significant than many reports indicate. The seven phases, revealed over time, involve real advancements in both technology and how things are run, marking a clear difference between the current Telegram leadership and the previous Foundation period.

Catchain 2.0, launched in April 2026, significantly boosted TON’s speed. It reduced block creation time from about 2.5 seconds to just 400 milliseconds, and finalized transactions in under a second instead of around 10 seconds. This level of performance places TON among the fastest blockchain networks, comparable to Solana (before its Alpenglow upgrade) and Sui. This near-instant transaction speed is crucial for everyday payments – users expect quick, seamless transactions within apps and won’t tolerate long delays.

As a researcher following this project, I can share that the second major step was a fee reduction, implemented in early May 2026 alongside the validator takeover. We saw transaction costs drop from around 0.00234 TON to a fixed rate of 0.00039 TON per transaction – meaning about $0.0005 per transaction at today’s prices. What’s really important isn’t just the lower cost, but that the fees are now predictable. This standardization is a big deal because developers have struggled with unreliable cost models on networks where fees fluctuate with congestion. Having consistent fees allows them to build more reliable applications.

Okay, so things are really moving with TON. The latest news, announced on May 4th, is that Telegram has become the biggest validator on the network. They’re basically providing a ton of infrastructure to help keep things running smoothly. They haven’t said exactly how much of a stake they have, but the message is clear: Telegram’s validator capacity is bigger than anyone else’s right now. As an investor, this is a huge vote of confidence and should help stabilize and scale the network.

The next major update, planned for late May or early June 2026, will bring new tools for developers and a completely redesigned website, ton.org. Currently, the site only shows a placeholder page. The new ton.org will feature refreshed documentation, enhanced software development kits (SDKs), easier-to-use guides for creating Telegram Mini Apps, and practical tools for developers. Previous developer experiences were lacking, but the team is now building a completely new system from the ground up.

Scheduled for the second quarter of 2026, TON Pay 2.0 is the next major upgrade to Telegram’s payment system. It aims to provide fast, seamless payments directly within the app, and a key benefit is that users won’t need to hold any TON cryptocurrency just to cover transaction fees. This is the payment solution intended for everyday users, and the ultimate goal is to make TON the leading payment network for consumers in the crypto space, assuming it launches as planned and can handle a large number of transactions.

Scheduled for around mid-2026, TON Teleport is the next major upgrade. It will connect the TON blockchain with Bitcoin, allowing Bitcoin owners to participate in TON’s decentralized finance (DeFi) applications without needing to convert their Bitcoin to TON or sell it. This is expected to bring significant new capital into the TON ecosystem, as it opens up DeFi opportunities to Bitcoin holders who haven’t previously been involved.

The final stage of the project hasn’t been revealed yet. Pavel Durov has mentioned improvements to speed and technology, but hasn’t said exactly what it will be. It could involve making the system work even more smoothly, adding new features for users, or better connecting it with other Telegram apps and services.

Progress is happening quickly. Catchain 2.0 launched shortly after being announced in April, and fees were reduced in early May. The validator takeover, announced May 4th, is currently being rolled out. We anticipate new developer tools and a redesigned ton.org website will be available in the coming weeks. TON Pay 2.0 is still on schedule for release in the second quarter of 2026. This rapid development is a significant improvement over the pace seen during the Foundation period. The key question now is whether this speed can be maintained through the launch of both TON Pay 2.0 and TON Teleport, as that will ultimately determine if the MTONGA roadmap is successful.

The Durov legal risk that matters

Any thorough examination needs to carefully consider Pavel Durov’s current legal issues in France, as these now pose a direct threat to the TON network.

Pavel Durov was arrested at a Paris airport on August 24, 2024, following an investigation into Telegram. French authorities allege Telegram failed to cooperate with criminal investigations, ignoring repeated requests for assistance. He faces 12 charges, including helping facilitate illegal activities like online fraud, drug trafficking, and the distribution of child sexual abuse material. Other charges include refusing to share information with authorities and providing services that aid criminals. If convicted, Durov could face up to 10 years in prison and over $550,000 in fines.

On August 28, 2024, Pavel Durov became the subject of a formal investigation and was restricted from leaving France, needing to report to the police twice a week. In July 2025, this restriction was eased to allow brief trips to the UAE, where Telegram’s headquarters are located. After a year of following court orders, France completely lifted the travel ban on November 13, 2025. However, as of mid-2026, the criminal investigation is still in progress.

Pavel Durov continues to maintain his innocence. He claims French authorities didn’t follow proper procedures and has called the case illogical and baseless. He also alleges that French intelligence offered to help with his case if he would censor content from users in Moldova and Romania. The situation has drawn significant attention as a free speech issue, with groups like the Human Rights Foundation coming to Durov’s defense.

TON is directly affected by potential legal issues surrounding Telegram. Before May 2026, any legal problems for Durov were related to Telegram and only indirectly impacted TON. After the planned takeover, Durov’s legal risks become a direct operational risk for TON. For example, if France were to limit Telegram’s operations, TON would significantly feel the effects. Similar actions by other countries could create even bigger problems for the network.

The potential legal issues aren’t likely to cause a sudden collapse. The situation in France is progressing slowly, with no trials scheduled soon. Pavel Durov continues to operate Telegram as usual from Dubai. The most probable result is a lengthy legal process that won’t immediately disrupt Telegram or its associated cryptocurrency, TON.

However, potential worst-case scenarios are important to consider when evaluating Telegram’s long-term stability. If Pavel Durov is found guilty and imprisoned, it would significantly disrupt Telegram’s leadership and day-to-day operations. Further legal challenges in other countries, similar to those in France, would increase Telegram’s overall legal risks. An unfavorable ruling in the French case, if adopted by other legal systems, could create a serious, lasting risk not only for Telegram but also for the TON blockchain.

The recent change in leadership shifts control of TON from a legally independent foundation to Telegram, meaning it’s now directly linked to Telegram founder Pavel Durov’s legal standing. While this change makes things easier to implement and move forward with, it’s a significant shift – the legal risks associated with owning TON are now different than they were before May 4, 2026. Essentially, there’s a trade-off between legal protection and operational efficiency.

If you own TON, it’s important to pay attention to Pavel Durov’s legal issues in France. Updates in the case – like new charges, trial dates, or settlement talks – could now affect the price and functionality of TON, so consider these developments as potential risks when evaluating the asset.

The consumer crypto question

The real importance of this acquisition lies in whether it suggests widespread use of cryptocurrency by everyday people is achievable.

For years, many crypto projects have focused on bringing blockchain technology to everyday consumers. The idea is simple: blockchain *could* be widely used, but only if it’s easy and convenient to use. Unfortunately, most attempts haven’t succeeded. They tried to create user-friendly apps using technology that was originally built for more complex purposes, creating a frustrating experience for average users.

TON, directly managed by Telegram, is set to be a large-scale test of whether cryptocurrency can be easily adopted by everyday users. With over 950 million Telegram users, the platform is ready with its Mini App system and is about to launch TON Pay 2.0 for payments. Low and consistent transaction fees should encourage wider use, and the underlying technology is designed for speed and reliability, providing a smooth user experience.

If TON succeeds in this approach, it would be the first major blockchain to gain widespread use because it’s built directly into an existing platform, rather than relying on advertising to attract users. This would have a significant impact, potentially forcing other tech companies to consider similar blockchain integrations. It would also greatly increase the perceived value of using blockchain for everyday payments. Currently leading stablecoin networks like those on Solana and Tron would then face competition from a blockchain that already has a built-in user base.

As an analyst, I see a significant downside risk if TON doesn’t prove its potential. If, despite having a massive user base of 950 million, built-in distribution channels, incredibly low fees, and fast development, everyday people still don’t widely use it for payments, that would tell us something crucial. It wouldn’t just mean TON had execution issues – it would suggest the entire idea of consumers regularly using crypto for payments might be fundamentally flawed. We’d have to reconsider the basic premise.

As a crypto investor, I’m looking at TON, and I think it’s likely to see good growth in the next couple of years, but not a complete revolution. I’m predicting that somewhere between 5% and 15% of Telegram’s huge user base will actually start using TON regularly – things like paying within the app, sending money to friends and family, playing blockchain games, or even trading tokenized stocks through platforms like xStocks. Most Telegram users probably won’t bother with the crypto features, though. Even if that’s the case, adding 50 to 150 million users would still be a massive win – bigger than almost any other crypto project out there – but it wouldn’t mean everyone is using crypto, just a significant chunk of Telegram’s audience.

The launch of xStocks on the TON blockchain through Telegram’s Wallet gives us a first look at how easy it will be for everyday users to interact with crypto. It allows people to buy tokens representing US stocks directly within Telegram, skipping the need for traditional stockbrokers. If done well, this could be a popular product, especially in countries where access to US stock markets is limited. Over the next few months, we’ll be able to see if xStocks and similar products become widely used by looking at how many transactions they process.

What this means for TON holders

As an analyst following TON, here’s what a recent takeover assessment means for current holders or those thinking of investing. It basically outlines what the potential implications are for us.

The reasons to be optimistic about TON have become much stronger. Telegram’s clear support, the quick development of MTONGA, very low transaction fees, and plans to integrate with everyday users (through features like TON Pay 2.0, xStocks, and Mini Apps) all suggest the price could continue to rise, assuming these plans are carried out successfully. TON is now more than just a gamble on a community-driven project; it’s a bet on Telegram’s ability to deliver as a leading technology company.

There’s a growing argument against the platform’s future. Concerns about power being concentrated in too few hands are valid, and the company faces legal risks due to its founder’s situation. Relying heavily on one entity also creates operational vulnerabilities. While the recent changes may speed things up, they come at the cost of independent oversight and introduce new potential problems.

For those holding TON for a long time, this means it’s now behaving more like a cryptocurrency backed by a company – similar to BNB and the BNB Chain, or Ronin supported by Sky Mavis. This is a shift from being a truly community-run, decentralized system like Ethereum or Solana. This change affects the potential risks and rewards: these types of assets can grow quickly if the company does well, but they’re also more vulnerable if that company runs into problems.

Technical analysis shows key price levels are important for this stock. After the acquisition, the price quickly rose from $1.30 to over $2.80. Throughout May, the price repeatedly found support around $2.00. If the price falls below $1.65 and stays there, it suggests the initial price increase following the acquisition is losing momentum. Conversely, a strong move above $2.40, accompanied by increased trading activity, would indicate the positive trend is continuing. Finally, if the price drops back to $1.30, it would mean the entire post-acquisition gain has been erased.

As I’ve been researching institutional investment in TON, one key factor keeps coming up: its level of centralization. We’re finding that while TON’s current structure offers certain advantages in terms of execution, it’s a complex issue for institutions. Some are perfectly comfortable with the fact that it’s backed by a corporate entity, but others have strict requirements for decentralization that TON, in its current form, might not satisfy. How different institutional investors respond over the next year will really tell us which segments are willing to accept this structure.

Keep an eye on the upcoming launches of xStocks and TON Pay 2.0 – these are the next big things to watch. If either of these launches goes well, it will reinforce the idea that the company is on the right track. However, if they stumble or get delayed, it could indicate that the company’s plans for quick progress are more of a goal than a reality.

The bottom line

Telegram’s full control of TON marks a major turning point for the network, and represents one of the most important connections between a large company and the crypto world so far. This change is substantial, the recent price increases suggest serious interest from larger investors, and it could have a big impact on how cryptocurrencies become popular with everyday users.

The transition is happening simply: Telegram is now leading the development of TON, becoming its biggest validator. They’re following a plan called MTONGA to improve speed, lower fees, add tools for developers, upgrade the payment system (TON Pay 2.0), and create a Bitcoin bridge (TON Teleport). Ultimately, Telegram aims to make TON the blockchain for its massive user base of over 950 million people. This shift is happening quickly and efficiently, as you’d expect from a company, but it also raises concerns about centralizing control.

Understanding the history is important. Back in 2018, the SEC stopped Telegram from launching its TON network, requiring them to give $1.22 billion back to investors and pay an $18.5 million fine. Although the TON Foundation, run by the community, kept the network alive from 2021 to 2026, it faced certain restrictions. The planned 2026 transition represents a recovery from that 2018 setback, and is now happening due to changes in regulations and a more favorable policy environment under the current SEC and the Trump administration’s earlier policies.

As a crypto investor, one of the biggest concerns I’ve been hearing about TON is its level of centralization, and honestly, it’s a valid point. It feels different when a single company, rather than a lot of independent people, controls how the blockchain runs. Plus, Pavel Durov’s legal issues in France – he’s facing some serious charges – now directly impact the risks TON faces as a project. It seems like TON is prioritizing getting things done quickly and attracting users, but that comes with the trade-off of being more centralized and having a lot of risk concentrated in one place. Whether that trade-off is worth it is something investors can reasonably disagree on.

What makes Telegram’s crypto efforts particularly noteworthy isn’t just about Telegram itself. The key question is whether combining Telegram’s commitment with its massive user base (950 million+), very low transaction fees, and instant in-app payments will actually lead people to start using crypto. If it does, other big tech companies will likely feel compelled to explore similar blockchain features. However, if this combination doesn’t gain traction, it will raise doubts about the potential of this approach generally. We should have a clear answer within the next two to three years.

For those who own TON, the potential risks and rewards have fundamentally shifted. There’s a stronger argument for why the asset could perform well, as Telegram’s increased involvement promises quicker development and a smoother user experience. However, the potential downsides have also increased due to greater centralization, potential legal issues related to Telegram’s founder, and reliance on a single company. The most likely result will fall somewhere between major success and significant setbacks.

This acquisition highlights two key changes in the crypto world. First, regulations are now clear enough to allow large companies to actively participate in major blockchains, something that wasn’t possible before. Second, it’s a massive test of whether everyday consumers will actually use crypto, with a platform already connected to almost a billion potential users. How well this works will significantly influence the future of crypto adoption.

The SEC’s legal action in 2020 effectively ended the original Telegram Open Network project. However, the relaunch planned for 2026 represents a fresh start – a blockchain openly managed by a company, widely available through a popular messaging app, and designed to see if cryptocurrency can become popular with everyday users by being directly integrated into a platform people already use, rather than relying on traditional marketing to attract users.

The experiment’s success isn’t guaranteed and relies on things outside of our direct control. Changes in regulations, the ongoing legal case against Durov in France, competition from other cryptocurrencies, and whether people actually use new products like TON Pay 2.0 could all impact the outcome. Essentially, a lot needs to go right for it to work.

We’re now clearly seeing this experiment unfold in a way we didn’t before May 4, 2026. The outcome will determine whether or not everyday people widely adopt cryptocurrency for the next ten years.

This acquisition is important for how the industry is structured. Expect the market price to continue changing, and the full impact of this deal will unfold over several months and years. We’ll only gradually see the wider effects on the industry. However, it’s now proven that a large messaging service *can* operate a major blockchain – it’s no longer just an idea. We’ll have a clear answer on how this works in the next year.

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2026-06-01 15:11