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2d ago

Verb Technology to Become First Public Toncoin Treasury Vehicle as $558M PIPE Nears Close

The rebrand will coincide with deploying proceeds to acquire Toncoin for staking rewards in a cash-flow-positive reserve strategy.

Forget Bitcoin: A Nasdaq firm just picked Toncoin as its treasury asset
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Verb Technology secures $558 million to launch first publicly traded Toncoin treasury strategy
Toncoin, a cryptocurrency tied to Telegram

Overview

  • Oversubscribed $558 million private placement to close around August 7, led by Kingsway Capital and backed by over 110 institutional and crypto-native investors.
  • Upon closing, Verb Technology will rebrand as TON Strategy Co. and allocate the majority of net proceeds to acquiring Toncoin, targeting roughly 5% of its circulating supply.
  • The company plans to stake its Toncoin holdings via Telegram’s exclusive blockchain integration to generate sustainable staking rewards.
  • VERB shares have climbed over 100% on the announcement, as broader market movements put slight downward pressure on Toncoin’s price.
  • Verb’s existing AI-powered livestream commerce and healthcare businesses will continue operating and are expected to expand alongside the new treasury strategy.