TON Sinks After Elon Musk Denies xAI/Telegram Deal Was Signed

A deal that would bring xAI's Grok to Telegram has apparently not been signed, despite prior reporting, putting sell pressure on TON's recent rally.

"No deal has been signed," Musk posted late Wednesday in response to the Telegram founder's announcement.

TON, a token associated with Telegram, dropped from $3.60 to $3.40 in the moments after the tweet. The token had been on a rally in the hours after the announcement, previously up 14% on-day, according to CoinDesk market data.

More to come...