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Verb Technology Secures $558 Million to Form First Public Toncoin Treasury Reserve

Backed by over 110 institutional investors, the financing highlights growing Wall Street confidence in Toncoin ahead of the company’s rebrand next week.

Verb Technology secures $558 million to launch first publicly traded Toncoin treasury strategy
Toncoin, a cryptocurrency tied to Telegram
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Overview

  • Verb Technology’s upsized and oversubscribed private placement raised $558 million to implement a Toncoin treasury strategy.
  • On closing around August 7, the company will rebrand as TON Strategy Co. and become the inaugural publicly traded treasury reserve of Toncoin.
  • The financing was led by Kingsway Capital and anchored by major investors such as Blockchain.com, Vy Capital, Ribbit Capital and Graticule (GAMA).
  • The company plans to allocate the majority of net proceeds to acquire roughly 5% of Toncoin’s circulating supply and to stake holdings for yield.
  • VERB shares surged roughly 100% after the announcement while Toncoin’s price fell 5–6% during broader market movements.