Verb Technology Rebrands as TON Strategy Co. After $558M Raise

Verb Technology Company, Inc. (Nasdaq: VERB) announced a $558 million private investment in public equity (PIPE) to transition into the first publicly listed company to adopt Toncoin ($TON) as a core treasury asset, rebranding as TON Strategy Co. (TSC). The oversubscribed deal involves the issuance of 58.7 million shares at $9.51 per share, aligned with its Nasdaq closing price on August 1, and is expected to close by August 7 after regulatory approvals [1]. The firm aims to convert the majority of the proceeds into Toncoin, positioning itself as one of the largest institutional holders of the token. This move marks a strategic shift toward blockchain-native treasury management and reflects growing institutional confidence in the Telegram-backed TON ecosystem [1].

The TON blockchain, now powering Telegram Ads, tokenized usernames, NFTs, and mini-apps, benefits from direct integration with the messaging platform, which has over one billion monthly active users. TON Wallet, launched this quarter, is available to 87 million U.S. users, further expanding the network’s accessibility and utility [1]. Toncoin currently ranks 33 in total value locked (TVL) on DeFi platforms, with $155.56 million in TVL and a stablecoin market cap of $782.13 million—up 17% in the past week [1]. The firm intends to hold up to 5% of TON’s current circulating supply and maintain 77% of raised capital in liquid assets. About 36% of VERB’s share capital will be subject to lock-up periods of six to twelve months [1].

TSC’s strategy mirrors that of SOL Strategies, which raised $500 million in 2025 to fund a Solana-focused treasury and validator operations. TSC’s approach highlights a broader trend of institutional adoption of Layer-1 blockchains with real-world user bases, particularly those embedded within social platforms like Telegram. This model contrasts with Bitcoin-centric strategies adopted by companies such as MicroStrategy or Metaplanet [1]. TSC’s Toncoin holdings are expected to serve both as a store of value and a source of income through staking mechanisms, which the firm anticipates to be cash-flow-positive over time [1].

Despite the firm’s bullish move, Toncoin experienced a 3.3% decline on the day of the announcement amid broader market volatility and profit-taking after a recent rally. However, shares of Verb Technology surged 193.38% on August 4, reaching $27.40 by mid-morning, reflecting strong investor enthusiasm for the equity component of the strategy [1].

Sources:

[1] https://cryptonews.com/news/verb-raises-558m-ton-treasury-shares-surge/