Team,

Since joining TON Foundation over eight months ago, I have seen firsthand the focus and progress of everyone working to establish TON as an open, decentralized, and scalable network capable of supporting the crypto transactions of users worldwide. Still, we are not immune to the realities and challenging conditions of the broader market.

The landscape has shifted. We haven’t yet seen a return to the growth levels many had predicted and hoped for. Market volatility remains, liquidity has tightened, and capital flows have shifted. To ensure that we remain on a sustainable trajectory and aligned with our long-term ambitions, I have made the difficult decision to reduce headcount.

I know this decision will affect many smart, committed, and deeply mission-driven individuals who have made substantial contributions to TON Foundation and the wider ecosystem. For those leaving, please know that your work truly matters to your teams and the community that depends on our service. Thank you for your hard work and contributions.

You will receive more detailed information shortly. Impacted employees will be contacted individually by HR this week for a one-on-one conversation. These discussions will take place over the next week.

The Road Ahead

Our core beliefs remain unchanged: advancing TON as the most intuitive and easiest way for every consumer to accomplish, own, and create within Telegram.

We will continue to deepen the integration between TON and Telegram’s massive user base and fully support the builders and community members in accomplishing our goals.

Thank you for everything you have done, and continue to do, for TON Foundation and for the future of open, decentralized technology.