Manuel Stotz, Chairman of the Board of TONX, a Nasdaq-listed TON treasury company, stated that all TON sold by Telegram has a four-year vesting period. Furthermore, the primary buyer of the tokens sold by Telegram is TONX, which he leads, for long-term holding and staking. Previously, it was reported that Telegram's revenue reached $870 million in the first half of the year, a 65% year-on-year increase, partly attributed to the TON ecosystem; the company has sold over $450 million worth of TON, but Stotz emphasized that Telegram's net TON holdings have not decreased significantly and may even have increased.