AlphaTON Defies 60% Toncoin Slide, Bets on Telegram-Driven Blockchain Future

AlphaTON Capital, a Nasdaq-listed firm formerly known as Portage Biotech, has completed its first $30 million acquisition of Toncoin (TON), the native token of The Open Network, as part of a broader strategy to rebrand as a digital asset treasury company. The purchase follows a $71 million financing round, which included a $36.2 million private placement of 6.32 million shares at $5.73 each and a $35 million loan facility from BitGo PrimeAlphaTON Completes Initial $30M Toncoin Purchase After Latest Fundraise^[1]. This move positions AlphaTON as one of the largest institutional holders of Toncoin, with plans to expand its TON treasury to $100 million by the end of 2025AlphaTON Raises $71M and Buys $30M TON Tokens^[2]. The company aims to leverage its holdings to generate yield through staking, network validation, and strategic investments in Telegram’s mini app ecosystemAlphaTON Capital Secures $71 Million, Acquires $30 Million in Toncoin^[3].

The financing and acquisition underscore AlphaTON’s pivot from its biotech roots to a blockchain-focused strategy. CEO Brittany Kaiser emphasized the firm’s commitment to the Telegram ecosystem, stating that the investment “demonstrates our unwavering commitment to the next wave of decentralized application development”AlphaTON Capital Corp Successfully Closes $71 million Financing^[4]. The company’s leadership team includes Executive Chairman Enzo Villani, co-founder of Nasdaq Global Corporate Solutions, and advisors such as Anthony Scaramucci (SkyBridge Capital) and Jaime Rogozinski (founder of Wall Street Bets)Nasdaq-Listed AlphaTON Capital Invests $30M in TON Tokens^[5]. Strategic partnerships with entities like BitGo, Kraken, and Animoca Brands further reinforce AlphaTON’s institutional-grade approach to digital asset managementAlphaTON Supercharges Toncoin Strategy with Aggressive $30M Move^[6].

AlphaTON’s treasury strategy aligns with a broader trend of corporate crypto accumulation, particularly in altcoins like Toncoin. The firm joins other entities, such as rebranded Verb Technology (now TON Strategy), which recently acquired $713 million in TONAlphaTON Adds $30M in Toncoin to Balance Sheet Amid Price Decline^[7]. Despite Toncoin’s recent price decline—down 60% from its 2024 peak to $2.68 as of September 2025—AlphaTON remains bullish, citing the token’s potential to bridge social media adoption and blockchain infrastructureNasdaq-Listed AlphaTON Kicks Off Treasury Strategy, Buys $30M in Toncoin^[8]. Analysts note that current market dips may represent a final correction before a potential “Uptober” rallyAlphaTON Capital Shares Surge on TON Treasury Announcement^[9].

The company’s financial structure includes a $35 million BitGo loan collateralized by TON tokens, with a six-month repayment termAlphaTON Capital Corp Successfully Closes $71 million Financing^[10]. AlphaTON plans to use the raised capital to fund staking operations, validator nodes, and investments in Telegram-based decentralized finance (DeFi) projectsAlphaTON Capital Raises $71.2M Via Private Placement and BitGo Loan^[11]. Shareholders will receive regular updates on treasury performance and ecosystem developments, ensuring transparency in its dual focus on digital assets and its legacy biotech initiativesAlphaTON Capital Secures $71 Million, Acquires $30 Million in Toncoin^[12].

While Toncoin’s market position has weakened—falling from a top 10 ranking to 31st by market capitalization—AlphaTON’s aggressive accumulation strategy signals confidence in its long-term utilityAlphaTON Capital Corp Successfully Closes $71 million Financing^[13]. The firm’s leadership attributes this to Telegram’s 1.8 billion monthly active users and the platform’s integration with the TON blockchain, which could drive mass adoption of decentralized applicationsAlphaTON Capital Secures $71 Million, Acquires $30 Million in Toncoin^[14]. AlphaTON’s next steps include expanding its treasury, launching yield-generating operations, and fostering partnerships with developers in the Telegram mini app spaceAlphaTON Capital Raises $71.2M Via Private Placement and BitGo Loan^[15].