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2w ago

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

The pivot positions the Nasdaq-listed firm to pursue staking-driven yield alongside investments in Telegram-based apps.

Overview

  • AlphaTON closed a $71 million package composed of a $36.2 million private placement of 6.32 million shares and a $35 million BitGo Prime loan facility.
  • The company immediately purchased $30 million of Toncoin as the first tranche toward a stated $100 million treasury target by the end of 2025.
  • Executives say staking and validation will begin soon to generate recurring yield that can be recycled into TON ecosystem projects.
  • AlphaTON, rebranded from Portage Biotech and listed on Nasdaq, plans to back Telegram mini apps, DeFi protocols, and infrastructure built on TON.
  • The move follows larger TON accumulations by peer firms and comes after a steep Toncoin price decline that company leaders frame as a long-term entry point.