TON Strategy Executes First $250M Buyback Tranche - Massive Confidence Signal for Investors

TON Strategy just fired the starting gun on its ambitious $250 million share repurchase program—and the first tranche is already in the books.

Why This Buyback Matters

This isn't just another corporate maneuver. Deploying a quarter-billion dollars signals rock-solid confidence in TON's intrinsic value and future prospects. It screams that management believes the current price doesn't reflect the true upside—something Wall Street analysts would call 'aggressive capital allocation' while secretly wondering if they missed the memo.

Market Impact & Strategic Positioning

Buybacks reduce circulating supply, potentially boosting per-share value for remaining holders. In the volatile crypto space, such decisive action separates serious projects from the hype-driven crowd. TON's move demonstrates financial discipline and a long-term vision—rare commodities in an industry still obsessed with overnight moonshots.

Looking Ahead

With the first tranche complete, all eyes are on execution timing and market response. If traditional finance has taught us anything, it's that buybacks often precede major moves—either brilliant strategic pivots or desperate attempts to prop up fading glory. Given TON's trajectory, we're betting on the former.

TON Strategy begins staking its token holdings

As of September 11th, TON Strategy Co. (Nasdaq: $TONX) disclosed:$TON tokens: 217,529,634
Fully diluted common shares outstanding: 62,486,673
Treasury Asset Value (TAV): $761,087,677
TAV per share: $12.18

We've initiated our $250M buyback program, repurchasing >250K shares at…

— tonstrat (@tonstrat) September 12, 2025

TON Strategy said its share repurchase and the start of staking show its current financial strength. According to the firm, the initiative demonstrates its commitment to shareholder value and long-term confidence in The Open Network (TON) ecosystem. 

The crypto company also said its repurchase program complements its recent launch of TON on Gemini, Robinhood, and Zengo. TON Strategy believes the initiative represents steps toward broader market access for the token as the native asset. 

Stotz said the buybacks and staking initiatives demonstrate the company’s conviction in both the durability of its balance sheet and the long-term opportunity it envisions. He added that staking allows the firm to turn its role as a long-term holder of TON into an active contributor to the network’s security by generating yield that compounds alongside its treasury.

“We are executing on a strategic, disciplined capital allocation playbook. Staking introduces a recurring revenue stream into our model, while buyback allows us to enhance shareholder returns. At the same time, we are maintaining resources to continue expanding our TON treasury.”

–Veronika Kapustina, CEO of TON Strategy Company.

The crypto company launched its share repurchase program on September 8, which allows the firm to buy back up to $250 million of its common stock. The firm also appointed Cantor Fitzgerald & Co. as its non-exclusive agent to repurchase its shares.

According to the report, the stock buy-back program provides flexibility around the timing and method of future repurchases in the open market or through other means in accordance with applicable securities laws.

TON Strategy shares drop after buyback announcement

The company also began trading as TONX on the Nasdaq on September 2 after renaming from Verb Technology Company. The firm also completed a $558 million private placement and adopted a TON treasury strategy. Its initiatives made it the first Nasdaq-listed company to establish TON as its primary treasury reserve asset.

TON Strategy Company also revealed that its mission is to support the growth and security of tokenized networks by serving as a long-term holder of TON.

TON Strategy shares dropped by nearly 7.5% after the buyback announcement on Friday, and are currently trading at $7.24 at the time of publication. The company’s stock price dipped more than 60% in the past month and 21% since adopting the TON reserve treasury.

TON Foundation and Kingsway Capital Partners also raised approximately $400 million in July to launch a TON treasury company.

Coinbase head of research David Duong and researcher Colin Basco said in a report on Wednesday that crypto-buying public companies are entering a player vs player stage where strategically positioned players will thrive. They argued that the initiative would see companies compete harder for investor money and could drive up crypto market prices from the unprecedented capital flowing into them.

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