Qiwi Co-Founder Converts $17M TON Investment into Loan for Telegram

Sergey Solonin, co-founder of the Qiwi group and a significant investor in TON with a commitment of $17 million, has announced that he will reissue his investment as a loan to Telegram, according to a report from Forbes Russia on May 16.

This decision comes in the wake of Telegram’s ongoing legal challenges with the U.S. Securities and Exchange Commission (SEC), which led the company to miss its deadline of April 30 for launching the TON network and resulted in a prohibition on distributing its Gram tokens.