Demex Daily #12: $TON Telegram Adds TON Crypto Wallet

What’s Interesting Today:

Nearly three years after revealing its intention to create a Web3 ecosystem, Telegram has now added a crypto wallet developed on The Open Network (TON) blockchain. While the wallet is open to Telegram's vast user base of 800 million, it excludes users in the U.S. and a few other countries. This news prompted a 7% surge in Toncoin's value. TON Foundation has indicated that its blockchain-based projects will receive preferential treatment on Telegram's ad platform. This integration follows a period of separation between Telegram and TON in 2020, caused by a U.S. SEC lawsuit over Telegram's $1.7 billion ICO. The rekindled alliance aims to establish Web3 infrastructure and make cryptocurrency more accessible for Telegram users.

Coinbase has announced plans to integrate the Lightning Network to enable faster and cheaper Bitcoin transactions. The decision comes despite earlier reluctance from major exchanges, including Coinbase itself, citing fewer incentives for exchanges' income. Coinbase CEO Brian Armstrong says the integration will take time but is essential for improving Bitcoin scalability. This move follows Binance's recent completion of Lightning Network integration for Bitcoin withdrawals and deposits.

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