Tharimmune's $545M Move Accelerates Institutional Blockchain Adoption

Tharimmune, Inc. (NASDAQ: THAR) has closed a $545 million private placement to establish a digital asset treasury strategy centered on Canton Coin, a utility token powering the Canton Network blockchain, according to a Morningstar press release. The funding, led by DRW and Liberty City Ventures, attracted participation from institutional heavyweights including ARK Invest, Polychain Capital, and the Canton Foundation, according to an Investing.com report. The shares were priced at $3.075 apiece, with the transaction expected to settle by November 6, as noted in an Investing.com cryptocurrency report. Tharimmune's stock surged over 120% immediately after the announcement, settling at $3.39 — a 15% gain for the day, per a The Block report.

The capital will fund Tharimmune's acquisition of Canton Coins, its role as a Super Validator on the Canton Network, and the development of institutional-grade applications, as reported by Investing.com. As a Super Validator, the company will operate additional nodes to earn token rewards and enhance network performance, according to a Cointelegraph article. The Canton Network, a permissioned blockchain developed by Digital Asset Holdings, connects major financial institutions like Goldman Sachs, BNP Paribas, and DTCC, according to Morningstar. As of September 30, 2025, the network processed over 500,000 daily transactions, Investing.com reported.

Tharimmune's pivot into digital assets marks one of the largest institutional treasury financings to date, reports Cointelegraph. The company appointed Mark Wendland, former COO of DRW, as CEO to oversee the strategy, while Liberty City Ventures' Mark Toomey joined as President, per Morningstar. Existing management will continue leading Tharimmune's biotechnology operations, which focus on inflammation and immunology therapeutics, The Block reported.

The Canton Foundation's participation in the placement marks its first investment in a publicly traded company, The Block noted. DRW and Liberty City Ventures will contribute portions of their investment directly in Canton Coins, which remain unlisted on exchanges, according to an Investing.com report. The Canton Network's backers include Deutsche Bank, HSBC, and Cboe, underscoring its role in institutional blockchain adoption, Morningstar reported.

This move aligns with broader trends in tokenized finance, where real-world assets (RWAs) now exceed $34.6 billion in value, including $18.4 billion in private credit and $8.7 billion in U.S. Treasury debt, as discussed in a CoinCentral analysis. "Canton's architecture represents a breakthrough in enabling institutional-grade privacy and interoperability," said DRW's Don Wilson, as reported by Investing.com. Tharimmune's strategy aims to drive value through token acquisition, validator operations, and application development, Morningstar reported.