- Toncoin price fell 6% to about $3.37 after recent gains.
- Nasdaq-listed firm Verb Technology announced a $558 million TON treasury strategy.
- TON’s price could benefit from the company’s purchases as interest increases.
Verb Technology Company, Inc. (Nasdaq: VERB), a provider of interactive video-based sales applications, has announced plans for a major TON treasury strategy.
The company expects an initial raise of $558 million for what would become the first publicly listed TON treasury vehicle.
The news that Verb plans to add TON to its treasury comes as Toncoin (TON) faces notable selling pressure.
Major news for TON from Verb Technology?
Verb Technology has accepted TON, the native token of The Open Network blockchain.
In a press release on Monday, August 4, Verb revealed a $558 million private placement intended to purchase TON as the company positions itself as a leading TON participant.
The capital raise attracted more than 110 institutional and crypto-native investors, including Kingsway Capital, Vy Capital, Blockchain.com, Ribbit Capital and Graticule (GAMA). Additional subscribers included Kraken, Pantera, MEXC Ventures, Arrington Capital, Animoca and BitGo.
Verb is partnering with Kingsway Capital to support the ambitious venture.
Under the arrangement, Verb Technology will be rebranded as TON Strategy, and the move is expected to create the first publicly traded TON treasury reserve.
By integrating TON into its balance sheet, Verb aims to capitalize on rising blockchain adoption. According to the announcement, Verb will begin acquiring and holding TON as a treasury asset starting August 7, 2025.
“Telegram is the messenger of choice for a growing global crypto community, and TON is the currency that powers the Telegram ecosystem. In my view, a capital vehicle is well suited for long-term TON holdings, which not only offer potential compounding value but also provide staking yield, meaning the TSC could benefit from staking rewards,” said Manuel Stotz, founder and CEO of Kingsway Capital.
Toncoin price outlook as the altcoin draws Wall Street attention
At the time of writing, Toncoin (TON) was trading about 6% lower while the broader market attempts to recover from last week’s volatility.
Although TON is down, the news that Verb Technology is pursuing a $558 million treasury strategy involving the altcoin could quickly boost sentiment.
Verb’s $558 million commitment signals growing Wall Street confidence in TON’s long-term value, aligning with broader institutional interest in cryptocurrencies.
TON reached a high of $3.73 on August 3, but recent gains have cooled to roughly $3.37.
That performance leaves Toncoin only marginally in the green on the weekly timeframe.
Still, the altcoin is up 23% over the past month and retains an upward trend established since July 8.
Shares of Verb surged on the news, and TON could follow if the newly rebranded company begins executing its treasury plan.