Verb Technology confirms $713M TON stake after $558M private placement
- Its treasury has surpassed $780M, comprising $713M in Toncoin and cash worth $67M.
- The milestone comes after a $558M private placement completed early this month.
- Verb aims to accumulate 5% of Toncoin’s circulating supply.
Institutional players dominate market trends with dib-buying activities after the current broad market decline.
NASDAQ-listed Verb Technology, which will soon rebrand to Ton Strategy Company, has revealed a key milestone that aligns its vision with the Telegram-based blockchain.
The livestreaming firm has disclosed that its treasury assets have surpassed $780 million, with the Open Network’s native token accounting for the most at $713 million.
It holds the remaining $67 million in cash.
The development has attracted attention as it follows Verb’s $558 million private placement early this month.
The fundraising drew crypto-oriented investors and over 110 institutions, confirming trust in Verb’s digital asset strategy and the Toncoin project.
Commenting on the milestone, Verb’s Executive Chairman Manuel Stotz stated:
Verb eyes 5% of Toncoin’s supply
Verb Technology plans to be the central player in the Open Network ecosystem.
It plans to acquire over 5% of Toncoin’s circulating supply (currently at 2.56 billion tokens).
That would make Verb a top participant in securing the TON blockchain.
Moreover, the company plans to add its Toncoin balance on a per-share basis over time, leveraging staking rewards, disciplined market activity, and cash flow reinvestment.
That would ensure Verb’s active participation in supporting the platform’s infrastructure while benefiting from maximized returns.
Stotz added:
TON and potential
Verb Technology isn’t zeroing in on a random digital asset.
Toncoin remains the first coin to receive support from a leading social site.
Dogecoin appears to have failed in its fight to become X’s (formerly Twitter) payment token.
Telegram, the leading messaging platform with around 1 billion active users per month, collaborated with the Ton Foundation to make Toncoin the sole asset powering its ecosystem.
The integration enriched the alt’s utility, now the backbone for payments, wallets, and emerging decentralized applications (dApps) within Telegram.
The use cases likely elevated TON’s institutional appeal.
Recently, Coinbase Ventures endorsed Toncoin as the ideal token for fueling cryptocurrency adoption.
Toncoin price action
The alt trades at $3.30, reflecting the prevailing broad market declines.
Meanwhile, the minor 0.71% price increase signals a possible momentum shift as the community digests Verb’s updates.
TON could see brief gains in the near term, but the broad market outlook suggests short-lived gains.
Nonetheless, institutional interest positions Toncoin for impressive growth and price performance in the coming months and years.
The post Verb Technology confirms $713M TON stake after $558M private placement appeared first on CoinJournal.
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