Telegram's Toncoin Soars Amid Wall Street Buzz Over Lucrative Bond Deal

BlackRock and Citadel Rumored to Join $1.5 Billion Offering

The digital token tied to Telegram is on fire, rocketing up as whispers spread that Wall Street giants are eyeing the company's juicy 9% yield bond deal.

Toncoin (TON) blasted off by over 6% on Wednesday, fueled by rumors that mega asset manager BlackRock might jump into Telegram's sizzling $1.5 billion bond offering.

Telegram's gearing up to drop a five-year bond at a scorching 9% yield, insiders spilled to the Wall Street Journal. The cash haul's set to torch some old debt.

The messaging app's already locked down big dogs like Abu Dhabi's Mubadala, and now the grapevine's buzzing that BlackRock — already holding Telegram bonds — might go all in. Hedge fund Citadel's also rumored to be in the mix, but details are still hazy.

This funding frenzy comes hot on the heels of Telegram co-founder Pavel Durov dropping a bombshell that the app's now raking in cash from over 15 million paying users — double last year's haul — with a jaw-dropping $2 billion in projected revenue for 2025.

But Durov's facing heat, slapped with preliminary charges for allegedly playing hard to get with investigations into shady content on Telegram. French prosecutors just threw cold water on his U.S. travel request for investor chats, calling it "neither compelling nor justified."

Despite the drama, Toncoin, Telegram's crypto sidekick, shot up 6.49% to $3.15, flexing a $7.92 billion market cap on the news. But it's still chilling 61.6% below its 2024 peak.