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4h ago

AlphaTON Closes $71 Million, Buys $30 Million in Toncoin to Build $100 Million Treasury

The Nasdaq-listed firm pivots from biotech to a Toncoin treasury to back staking, validation, Telegram mini-apps, DeFi projects.

Alphaton launches ton treasury with $30 million buy

Overview

  • AlphaTON completed a $71 million financing package composed of a $36.2 million private placement of 6.32 million shares and a $35 million BitGo Prime credit facility.
  • The company immediately acquired $30 million worth of Toncoin, positioning itself as one of the larger holders in the TON ecosystem.
  • Management targets a $100 million Toncoin reserve by the end of 2025 through additional purchases and reinvestment of yield.
  • Staking and network validation operations are set to begin to generate recurring returns from the Toncoin treasury.
  • The firm rebranded from Portage Biotech and plans to deploy capital into Telegram-based mini-apps, DeFi protocols, and related TON infrastructure.