Ton Strategy Becomes First Public TON Treasury Holder via $558M Investment

A major Nasdaq-listed firm has made a bold move into the cryptocurrency space by committing $558 million in a private placement to become the first publicly traded entity to hold Toncoin (TON) as its primary treasury reserve asset. The company, formerly known as Verb Technology (NASDAQ: VERB), will rebrand as TON Strategy Co. (TSC) following the expected close of the transaction on August 7, 2025 [1][2]. The investment is part of a broader strategic shift that aligns with the growing adoption of TON, the blockchain underpinning Telegram's digital infrastructure [5].

The fundraising was executed as a PIPE (Private Investment in Public Equity) deal, with more than 110 institutional participants including Kingsway Capital, Blockchain.com, Vy Capital, Pantera, and Animoca [4]. Shares were issued at $9.51 each, totaling approximately 58.7 million shares, with 77% of the funds to be held in cash and the remainder used to purchase TON. The company aims to acquire roughly 5% of the circulating supply of TON, leveraging staking rewards to generate recurring income [5]. This marks a significant institutional validation of TON and its integration into Telegram's ecosystem.

Telegram has been increasingly embedding TON into its services, including the launch of TON Wallet in the U.S. and the development of mini apps, tokenized usernames, and NFTs. With over 1 billion monthly active users, the platform provides a vast user base for TON's utility, further supporting the token's long-term potential [5]. The rebranded TSC will serve as a bridge between traditional finance and Web3, with its leadership team composed of figures from both sectors. Manuel Stotz, CEO of Kingsway Capital and President of the TON Foundation, will serve as Executive Chairman, while Peter Smith, CEO of Blockchain.com, will act as a Special Advisor [5].

The shift reflects a broader trend of publicly traded companies adopting cryptocurrencies as core assets, potentially opening new avenues for institutional exposure and liquidity. TSC’s approach also highlights the growing convergence of blockchain infrastructure and mainstream applications. By committing a substantial portion of its treasury to TON, the company signals confidence in the token's role within Telegram’s ecosystem and its broader utility in decentralized finance [5].

Despite the strategic pivot, TSC plans to maintain and potentially expand its existing business operations, including its production studios in Los Angeles. This dual focus—on both traditional media and Web3 infrastructure—positions the firm to benefit from both evolving markets [5]. As TON continues to gain traction, TSC's position as an institutional holder could influence broader market perceptions and adoption.

The rebranding and investment strategy have been met with optimism from key stakeholders. Stotz has emphasized the significance of TON as the "heart" of the global crypto community, while Smith has called the move a milestone in the adoption of blockchain technology in institutional finance [5]. The combined expertise of TSC’s leadership and the strategic alignment with Telegram’s Web3 vision may provide a strong foundation for long-term value creation.

Source:

[1] https://finance.yahoo.com/news/ton-strategy-telegram-linked-online-212256709.html

[2] https://coindoo.com/major-nasdaq-firm-bets-558-million-on-toncoin-ton/

[3] https://www.investing.com/news/stock-market-news/verb-technology-stock-soars-after-558-million-placement-for-ton-strategy-93CH-4167804

[4] https://www.investing.com/news/cryptocurrency-news/verb-raises-558-million-to-become-first-public-ton-treasury-company-432SI-4167802

[5] https://www.livebitcoinnews.com/verb-technology-to-become-first-public-toncoin-treasury-holder/

[6] https://www.wjhl.com/business/press-releases/globenewswire/9505492/verb-technology-company-nasdaq-verb-announces-approximately-558-million-private-placement-to-establish-first-publicly-listed-ton-treasury-strategy-company-in-partnership-with-kingsway-capital