- Verb Technology raised $558 million and rebranded to TON Strategy Co., marking a major pivot toward crypto
- The company becomes the first public entity to hold Toncoin (TON) as a treasury asset
- Investors linked to the Telegram ecosystem back Verb’s move into crypto, signaling strong support for the strategy
Verb Technology Company experienced a surge of over 200% in stock price on Monday after announcing a pivotal $558 million PIPE deal and a rebranding as TON Strategy Co. This marks the company’s bold pivot into the world of cryptocurrency, with the aim of becoming the first publicly traded company to hold Toncoin (TON) as its treasury asset.
The company’s stock reached a peak of $29.33, eventually settling around $27 as investor enthusiasm spiked around its move to capitalize on institutional interest in blockchain-native reserves. The proceeds from the capital raise will be allocated toward acquiring and staking Toncoin, the native token of Telegram’s blockchain ecosystem, and it is expected to drive a long-term growth strategy for the company.
Ton integrate a coordinated strategy into public markets
Several notable investors in the $558 million offering have deep ties to Toncoin and the Telegram ecosystem. Kingsway Capital, led by Manuel Stotz, President of the TON Foundation, spearheaded the round. Stotz will also take over as Executive Chairman of the newly rebranded TON Strategy Co. He highlighted the opportunity for Toncoin to become a key player in the global crypto community, pointing out its potential for long-term value growth and staking yield.
Other prominent investors backing this pivot include Blockchain.com, with CEO Peter Smith joining as a special adviser to TON Strategy Co., and Vy Capital, a long-time supporter of Telegram. This wave of investments signals a coordinated effort to bring Toncoin into the public markets, with additional backing from companies like Animoca Brands and The Open Platform (TOP), who are collaborating with the TON Foundation on various blockchain projects.
Corporate crypto investments trend on the rise
Verb’s rebranding and pivot towards crypto are part of a growing trend where public companies are holding altcoins as part of their treasury strategy. The interest in crypto assets beyond Bitcoin has been steadily rising, with companies like BTCS Inc. and Sharplink Gaming making significant investments into Ethereum (ETH), while others like Tron Inc. and CEA have set their sights on tokens like TRX and BNB.
The increasing trend of institutional investments in blockchain-native assets highlights the growing integration of cryptocurrency into mainstream business strategies, with more companies tapping into altcoins as a hedge and long-term growth engine.
