PANews reported on August 11th that Coinbase Ventures has become a Toncoin holder, though the exact size of its holdings has not been disclosed. The foundation stated that this move is a significant vote of confidence in the future of The Open Network, continuing the momentum of support from early investors such as Sequoia Capital, Benchmark, and Ribbit. The foundation aims to leverage Telegram's billions of users to promote the practical application and widespread adoption of cryptocurrencies.