The TON Foundation will tap a group of Tier 1 VC backers, to raise another $400M in a token-based deal, with additional TON sales.

Update (March 20 at 4:41 PM UTC): This article has been updated to clarify that the token sale was not directed at the TON Foundation. The Open Network Foundation, also known as TON Foundation ...

The TON Foundation, the entity overseeing the development of The Open Network blockchain, has successfully raised over $400 million through the sale of its native cryptocurrency, Toncoin.