Verb Rebrands to TON Strategy as Stock Soars 200% on $558M Toncoin Plan

Verb Technology Company’s stock increased by more than 200% after it revealed a $558 million raise to support its Toncoin treasury plans.

Verb Becomes TON Strategy, Launches $558M Toncoin Plan

The Verb Technology has announced a $558 million private investment deal as it plans to rebrand itself as TON Strategy Company, becoming the first publicly traded firm to adopt Toncoin, the core token of Telegram’s blockchain ecosystem, as its primary treasury asset.

The raise includes $58.7 million in shares and prefunded warrants priced at $9.51, which will be used to acquire and stake Toncoin. According to Google Finance, investors’ excitement over the company’s decision sent the stock surging to $29.33 before settling at $27.

Multiple investors in the private deal have deep ties to Toncoin and the Telegram ecosystem, indicating a coordinated effort to bring TON into public markets. 

Kingsway Capital led the funding effort, with its CEO, Manuel Stotz, also the president of the TON foundation, set to become the executive chairman of the rebranded TON Strategy Company.

Other investors include Blockchain.com, whose CEO Peter Smith will serve as special adviser to the rebranded company, and Vy Capital, a longtime Telegram investor. 

Additional participants like Animoca Brands and The Open Platform have existing partnerships with TON Foundation on gaming, tokenized assets, and Mini Apps integrated into Telegram.

Public Companies Boost Altcoin Investments in $7.8B Crypto Shift. 

Public Companies are beginning to invest in altcoins, signaling a growing trend in corporate crypto investment beyond Bitcoin. The trend gained momentum in July with at least 16 companies revealing plans to deploy over $7.8 billion into various cryptocurrencies.

Multiple firms moved into Ethereum, including BTCS Inc., which filed to sell up to $2 billion in shares, while Sharplink Gaming bought ETH worth $338 million in two separate deals.

Other firms are targeting different altcoins, such as Tron Inc., which announced plans to raise $1 billion to acquire TRX, its native coin. Meanwhile, Canadian Vape company CEA announced it would raise $400 million to unlock up  $1.25 billion for buying Binance’s BNB, sending its stock up by 550%

Additionally, Mill City Ventures III closed a $450 million deal to acquire Sui, while Cemtrex Inc. disclosed a $1 million  Solana purchase and aims to increase its stake to $10million.