Elon Musk and Telegram CEO Pavel Durov Announce Good News: Toncoin (TON) Price Surges

Elon Musk’s artificial intelligence startup xAI has signed a one-year partnership agreement with Telegram to offer and integrate its Grok chatbot into the app for Telegram users. Under the deal, xAI will pay Telegram a total of $300 million in cash and stock, while Telegram will also receive 50% of the revenue from Grok subscription sales made through the platform. Following the development, there was a sudden 13% increase in the price of Toncoin (TON), a Telegram-linked altcoin. Daily chart showing the recent rise in the TON price. The announcement was made public today by Telegram CEO Pavel Durov in a post. Durov stated that the deal will strengthen Telegram’s financial structure. “This summer, Telegram users will have access to the best artificial intelligence technology on the market,” he said. Related News: BREAKING: BlackRock is Making a Major Move into the Cryptocurrency Market – Acquiring a Huge Stake in One of the Most Important Companies Telegram is set to reach 1 billion monthly users by 2025. The company is also preparing to raise new funds with a $1.5 billion bond issue, according to the Wall Street Journal. The app is heavily used by government officials and the military, especially in countries like Russia and Ukraine. However, Durov’s legal situation in France is on the agenda. Durov, a French citizen, is accused of turning a blind eye to illegal activities via Telegram. Durov, who was detained in August, is legally restricted from traveling outside France. Telegram said in a statement on Musk’s social media platform X that they abide by European Union laws and that Durov “has nothing to hide.” According to the company’s website, Durov, who was born in Russia, left the country in 2014 and is also a citizen of the United Arab Emirates. In March, Elon Musk announced that xAI was merging with social media company X, valuing xAI at $80 billion and X at $33 billion. *This is not investment advice. Continue Reading: Elon Musk and Telegram CEO Pavel Durov Announce Good News: Toncoin (TON) Price Surges

Source: BitcoinSistemi