Verb Technology, a US-based social commerce firm listed on Nasdaq, is undergoing a complete transformation.
The company expects to rebrand as TON Strategy Co. and has announced a $558 million upsized and oversubscribed private placement (PIPE) to support its new focus on Toncoin, the native cryptocurrency of The Open Network, which is linked to Telegram.
The PIPE is expected to close on Thursday, with nearly all proceeds planned to be used to purchase and stake Toncoin, positioning the asset as its primary treasury reserve.
The decision comes as interest accelerates in altcoin treasury strategies beyond Bitcoin and Ethereum, especially those tied to rapidly growing ecosystems like Telegram’s.
The $558 million raise, one of the year’s largest in the blockchain space, was led by Kingsway Capital.
Its founder and CEO, Manuel Stotz, is also president of the TON Foundation and is set to take over as executive chairman of TON Strategy Co. after the deal closes on 7 August.
In the statement, Stotz stated,
“Telegram is the preferred messenger for the growing global crypto community, and TON is the currency that powers the Telegram ecosystem.”
He added that Toncoin not only offers potential value growth but also generates staking rewards, making it well-suited for permanent capital structures.
The deal attracted over 110 investors, including Blockchain.com, Vy Capital, Animoca Brands, Ribbit Capital, Kraken, Pantera Capital, and The Open Platform—many of which already have established ties to the TON ecosystem.
Blockchain.com CEO Peter Smith will serve as a special adviser to TON Strategy Co., while Veronika Kapustina and Sarah Olsen are set to take on CEO and CFO roles respectively.
According to the company, 77% of the cash raised will sit in liquid reserves, equivalent to about 5% of Toncoin’s current circulating supply.
Toncoin’s rise is directly linked to its deepening integration with Telegram, the messaging app with over a billion users.
Telegram previously distanced itself from the project following regulatory pressure, but TON has since evolved into an open-source blockchain supported by an independent community.
In 2023, Telegram added TON Wallet support, and in July 2025, it signed an exclusivity deal requiring all mini apps—such as the viral tap-to-earn games Hamster Kombat and Notcoin—to use TON.
This deal cements TON’s role as the backbone of Telegram’s in-app crypto ecosystem, where users can run ads, earn rewards, and trade tokenised assets.
Despite the major corporate endorsement, Toncoin fell 4.8% on 5 August to $3.39, according to CoinGecko, though it's still up 24.2% over the past month.
The token is currently ranked 27th by market cap, valued at nearly $8.2 billion.
Investors appeared far more bullish on Verb’s future than the coin itself.
On Monday, shares of Verb Technology saw a significant jump, reaching an intraday high of $29.52 before pulling back to close at $22.42, a 114% gain for the day, according to Google Finance.
The firm’s PIPE structure locks up 36% of its share capital for up to a year—a common feature in crypto treasury vehicles aimed at long-term digital asset accumulation.
However, similar transactions have sparked sharp price drops in the past once insider lockups expire and registrations are approved by the US SEC.
Verb’s move follows a broader trend of companies embracing altcoins as reserve assets.
In recent weeks, several firms have announced plans to raise or allocate billions into non-Bitcoin assets.
BTCS Inc. and Sharplink Gaming jumped into Ethereum, Tron Inc. is preparing a $1 billion TRX purchase, and Canadian vape company CEA said it would raise $400 million to unlock $1.25 billion for Binance’s BNB token.
Source: strategicethreserve.xyz
Mill City Ventures III revealed a $450 million deal focused on Sui, while Cemtrex Inc. made a $1 million initial Solana acquisition.
Coinlive sees TON Strategy Co.’s dramatic shift as more than simply a rebranding.
It represents an aggressive move into a relatively untested crypto asset still finding its footing outside the Telegram bubble.
While Toncoin benefits from a massive user base via Telegram’s platform, its network effects and decentralisation model remain under scrutiny.
Can a company survive with its treasury tied to a token that’s still building credibility?
If the Telegram-TON alliance holds, this could be one of the more powerful altcoin plays in public markets.
But if cracks emerge in utility, regulation, or tokenomics, TON Strategy may risk becoming another overleveraged bet on hype.
Telegram has launched a built-in crypto wallet for users in the US, allowing them to send, receive, and manage digital money inside the app. The wallet, called TON Wallet, works without extra apps and gives users full control of their funds.
AnaisUAE regulators confirmed that staking Toncoin does not qualify anyone for a golden visa, denying claims made by The Open Network. They warned the public to ignore false offers and said crypto investments have no link to visa or residency rights.
WeatherlyPavel Durov announced a one-year Grok AI partnership with Telegram, sending Toncoin surging but Elon Musk publicly refuted the claim, stating no such deal had been made. Now, the crypto community is left wondering: was it premature or pure fiction?
CatherineTelegram's crypto reserves surged to $1.3 billion, driving profits and offsetting challenges like CEO Pavel Durov's legal issues. Despite growth in ads and subscriptions, concerns over content moderation and debt financing linger.
WeatherlyTelegram's top crypto games, Hamster Kombat (HMSTR) and Catizen (CATI), have seen their tokens drop over 50% from peak values, echoing declines in other gaming tokens like Notcoin (NOT) and Toncoin (TON). The question now is whether they can recover or face a continued decline and possible collapse.
KikyoThe first 4000 attendees will get a free ride. Subsequently, users will enjoy 50% off their rides.
XingChiAirdrop season on The Open Network is nearly here, and developers admit that demand could get the better of the Telegram-linked network.
WenJunTelegram 迷你应用程序 TADA 推出之后推出的。该应用程序允许用户直接在 Telegram 中使用 Toncoin 或 USDt-TON 预订乘车和付款，这标志着将 Web3 技术集成到日常服务中的重要一步。
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