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53m ago

AlphaTON Raises $71 Million, Buys $30 Million in TON to Launch $100 Million Treasury Push

The financing positions the company to begin staking soon to fund ecosystem investments.

Overview

  • The funding combines $36.2 million from selling 6.32 million shares with a $35 million BitGo Prime credit line.
  • AlphaTON immediately purchased $30 million of Toncoin, placing it among the largest holders on the Telegram-linked network.
  • Executives say staking and validation are slated to start soon to generate predictable yield for the treasury.
  • The company targets a $100 million TON-denominated treasury by the end of 2025, with plans to reinvest proceeds in Telegram mini apps, DeFi and infrastructure.
  • CoinCentral reports participants include BitGo and Animoca Brands, and the leadership team features alumni of Nasdaq Global Corporate Solutions, SkyBridge Capital and RSV Capital.