The Open Platform (TOP), a leading app developer on Telegram's blockchain project The Open Network (TON), has raised $28.5 million in a Series A funding round, valuing the company at $1 billion. The round was led by Ribbit Capital with participation from Pantera Capital, involving the sale of 5% equity. TOP is focused on building TON-powered tools within Telegram, including a non-custodial wallet, NFT marketplace, decentralized exchange (DEX), blockchain games, and AI applications, aiming to leverage Telegram's user base of over 900 million to expand crypto adoption. This funding brings TOP's total capital raised to over $70 million, making it the first unicorn in the Telegram Web3 ecosystem. Separately, Talos, a crypto infrastructure firm backed by Citi, is set to acquire crypto data provider Coin Metrics for more than $100 million. The acquisition aims to create a fully integrated institutional platform combining Talos's trading and portfolio technology with Coin Metrics's data services.