TON Token Suffers After Musk Denies Signed Telegram Deal

The TON cryptocurrency price experienced significant fluctuations following conflicting statements from Telegram executives regarding a potential partnership with Elon Musk’s artificial intelligence company xAI. After xAI CEO Elon Musk clarified that no deal had been signed, the token price dropped from $3.60 to $3.28. 2 This incident demonstrates how premature deal announcements can cause substantial market instability in the cryptocurrency world, where token values often directly correlate with platform developments. The TON price movements highlight broader challenges for projects relying on corporate partnerships for value appreciation.