The Sultanates' 👑🫶💎

I want to say something about TON and GRAM.

And yes, I know exactly what many of you are going to say.

“TON is shit.”
“GRAM is shit.”
“Nothing is happening.”

You know what?

Some of you are absolutely right.

GRAM, as an asset, has been incredibly disappointing compared with many other opportunities in this market. And I’m not saying that because I hate it.

Quite the opposite.

I love TON.

I love the atmosphere. I love the idea. I love Telegram. I love the people I met here. I love watching this ecosystem evolve.

But loving something doesn’t mean pretending its problems don’t exist.

TON is insanely fast. Fees are ridiculously low. The technology is impressive.

But then what?

Speed is not a business model.
Cheap transactions are not adoption.
A billion Telegram users do not automatically become a billion TON users.

And this is where I think TON has its biggest problem.

The technology has improved enormously. But the ecosystem still has to prove that all this infrastructure can create real, sustainable economic activity and real value for GRAM.

That’s the uncomfortable part.

There are thousands of new chains, L2s, L3s and whatever L-300 someone launches tomorrow.

Technology catches up.

What doesn’t automatically catch up is distribution, users, products, liquidity, retention and actual reasons for people to stay.

And yes, TON has one massive advantage nobody can simply copy:

Telegram.

That is why I’m still here.

Not because I think TON is perfect.

Not because I think GRAM is some magical asset.

And definitely not because I believe every narrative I see on X.

I’m here because I genuinely believe there is something worth building around this ecosystem.

But sometimes I look at TON Twitter and think:

Guys… wake up.

We are adults.

Not everything is a revolution.

Not every meme is the future.

Not every Space changes the world.

Not every “community” needs to spend its entire existence promoting itself to other people who are also promoting themselves.

Build something.

Create something people actually need.

Make Telegram and TON better.

And if you think GRAM is shit, sell it.

There are thousands of other coins and chains waiting for you.

That’s completely fine.

But don’t confuse criticism of TON with hatred of Telegram.

Telegram is just a messenger.

TON is the infrastructure built around it.

And I think TON still has something to prove.

Maybe that sounds strange after 471 days of this challenge.

But I think love is a choice.

So I choose to keep loving TON.

Not blindly.

Not because I think it is perfect.

But because I still want to see what happens if this crazy little ecosystem finally grows up.

See you later tonight.

I’m coming home from work and I currently have basically no GRAM left.

So I guess I’ll have to find one somewhere. 😂

JUST IN: 🇺🇸 SEC Chair Paul Atkins says the crypto market grew from a "niche curiosity into a multi-trillion-dollar asset class."

@WatcherGuru

Timeline of events since Congress failed to pass the Crypto Clarity Act

September 15: Senate fails to pass Crypto Clarity Act.

September 17:
• SEC allows limited on-chain trading of tokenized US stocks.
• CFTC allows developers to build passive derivatives software without registering as brokers, including for crypto markets.
• SEC Chair Atkins says tokenization rules are moving toward a longer-term framework.

September 18:
• CFTC files new crypto market rules, moving them into White House review.

September 23:
• CFTC Chair Selig says the agency is establishing clear crypto market structure rules.
• CFTC outlines plans for 24/7 on-chain, tokenized financial markets.
• Trump administration considers promoting dollar-backed stablecoins internationally.

September 24:
• CFTC issues updated guidance on tokenized assets and blockchain recordkeeping.
• Federal Reserve proposes rules for stablecoin issuers under the GENIUS Act.

September 25:
• SEC staff releases new guidance on how securities laws apply to crypto.
• SEC Commissioner calls to end mass collection of sensitive KYC data.

@WatcherGuru

UK banking giants Lloyds, NatWest, Barclays, and HSBC have completed the world's first interbank transactions using blockchain-based tokenized deposits.

The real-world tests covered mortgage payments and person-to-person transfers.

This milestone could pave the way for faster bank payments, new forms of digital money, and tokenized bonds, marking a quiet step forward for institutional-grade blockchain adoption.