TON: Pantera's Largest Investment Ever | Interview With Cosmo Jiang

In the most recent episode of the Fundamentals podcast, we’re joined by Cosmo Jiang, Portfolio Manager at Pantera Capital, to discuss the details behind Pantera’s largest investment ever, into The Open Network (TON) – the Layer 1 network originally designed by Telegram.

We discuss Pantera's long-term approach to fundamentals-based investing and walk through their typical deal sourcing and due diligence processes. We explore the factors that helped Pantera build conviction for their largest investment to date, including the strategic partnership between Telegram and TON, how TON is uniquely positioned to onboard the first billion users to crypto, the importance of a thriving developer ecosystem, the impressive traction that mini-games have been seeing on TON, and the growth of stablecoins on the network.

We also speak about Pantera’s bull case for TON, the risks and 'unanalyzables' related to the investment, and how Pantera is supporting TON's growth post-investment.

Tune in for a great episode on the fundamentals of both Pantera and TON.

Listen to the episode:

• YouTube

• Spotify

• Apple Podcasts