Verb Technology Company Inc. (NASDAQ: VERB) has secured approximately $558 million in an oversubscribed private placement, allowing it to rebrand as TON Strategy Co. (TSC) and pivot its treasury strategy to primarily acquire Toncoin ($TON), the native cryptocurrency of The Open Network (TON) blockchain.
The U.S.-based TSC intends to use the majority of these proceeds to become one of the world’s largest $TON holders, leveraging Telegram’s expanding global ecosystem. This strategic shift, announced today and set to close by August 7, 2025, positions TSC to generate sustainable staking rewards from its $TON reserve.
According to the announcement, TSC is joining forces with Kingsway Capital, a London-based investment firm known for its focus on frontier and emerging markets, and over 110 institutional and crypto-native investors, including Vy Capital, Blockchain.com, Ribbit Capital, and Graticule.
Additional investors include CMCC Global, Pantera, MEXC Ventures, ParaFi Capital, Luxor Capital, Arrington Capital, Animoca, Kraken, BitGo, FalconX, Orbs Group, The Open Platform (TOP), TVM Ventures, Kenetic, Hivemind Capital, UNCAP, DigiStrats, Pacific Coast Venture Partners, and several high-profile crypto founders like Guy Young, Founder of Ethena Labs.
The firm believes that the plan will unlock long-term value in the shares. The company is thus forming a permanent capital vehicle model around $TON, which offers a hybrid of crypto yield and growth that is genuine in every sense.
TON Powers Telegram’s Growing Blockchain Push
Earlier this year, Telegram and the TON Foundation announced $TON as the official blockchain for Telegram’s global ecosystem. This includes payment for Telegram Ads and withdrawing creator rewards.
Additionally, it powers tokenized assets such as usernames, NFTs, and mini apps. Telegram’s wallet, TON Wallet, is now available to 87 million U.S. users. Globally, Telegram claims over 1 billion monthly users.
Hence, TSC is betting on massive exposure as TON adoption grows within Telegram. “Telegram is the preferred messenger for the growing global crypto community and $TON is the currency that powers the Telegram ecosystem,” said incoming Executive Chairman Manuel Stotz.
The incoming team brings deep crypto and institutional experience. “The TON ecosystem marks a major step in global crypto adoption,” said Blockchain.com CEO Peter Smith. Rory J. Cutaia, VERB’s CEO, added, “I’m excited to work with Manny… and for the value creation this deal represents.”
Verb’s stock will still trade under “VERB” on Nasdaq, with it’s new treasury plan kicking off after August 7, 2025. The company promises full transparency, strong compliance and verified $TON holdings. As of writing the Verb’s stock is at $22.45 up 136% according to Yahoo Finance data.
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