Verb Tech Shakes Up Crypto: $558M Rebrand to Become First Public TON Whale
Silicon Valley meets blockchain in a high-stakes pivot.
Verb Technology just dropped a bombshell—ditching its old identity to go all-in on The Open Network (TON). The $558 million funding round (because apparently 'modest' isn't in their vocabulary) positions them as the first publicly traded company to hold TON tokens. Wall Street analysts are already sharpening their pencils—some to calculate ROI, others to draft 'I told you so' memos about crypto pivots.
Why this matters: When legacy tech firms start buying blockchain real estate, it's either a genius hedge or a Hail Mary pass. The market's about to decide which.
One thing's certain: Verb's playing with house money now. Whether they're building the next crypto unicorn or just another cautionary tale remains to be seen—but they've got half a billion reasons to try.
TON Strategy Co. — A new identity and bold direction
Following the transaction’s expected close around August 7, Verb will rebrand as TON Strategy Co., signaling a full-scale shift in its corporate strategy. The firm intends to allocate the majority of the capital toward acquiring Toncoin (TON) and participating in staking programs, aiming to become one of the largest institutional holders of the token globally.
The deal is structured as a PIPE (private investment in public equity) and includes the sale of approximately 58.7 million shares at $9.51 per share—the stock’s closing price as of August 1.
A high-profile investor syndicate
The offering attracted significant interest, with over 110 investors participating. Leading the round is Kingsway Capital, with key backing from Blockchain.com, Vy Capital, Ribbit Capital, and Graticule. Additional notable participants include Pantera Capital, ParaFi, Animoca Brands, Arrington Capital, Kraken, BitGo, FalconX, Hivemind Capital, The Open Platform (TOP), and CMCC Global.
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The company stated that 77% of the total raise will remain in cash reserves, while its planned TON position will represent roughly 5% of the current circulating market cap of the token.
Share lockups and long-term vision
Approximately 36% of the company’s share capital will be subject to lock-up agreements ranging from six to twelve months, signaling long-term investor alignment. The MOVE positions TON Strategy Co. to play a unique role at the intersection of public markets and Web3 infrastructure, potentially setting a precedent for other firms to follow.
With this bold pivot, the company is placing a major bet on TON’s ecosystem growth, staking its future on the rising utility of Telegram-linked blockchain technology.
