AlphaTON Deploys $30M in Toncoin TON for Strategic Treasury Expansion

AlphaTON, a Nasdaq-listed company transitioning to Telegram's ecosystem, has invested $30 million in Toncoin as the foundation of its new cryptocurrency treasury strategy. This investment follows a $71 million funding round that combined private placement and credit arranged by BitGo Prime.

The move establishes AlphaTON as one of the largest institutional holders of Toncoin worldwide, with intentions to increase reserves to $100 million by the end of the year. CEO Brittany Kaiser described the purchase as infrastructure support for decentralized applications on Telegram's network of 800 million users.

The firm's rebranding from Portage Biotech to AlphaTON indicates a strategic shift toward cryptocurrency treasury management. Chairman Enzo Villani characterized the Toncoin acquisition as essential for leveraging Telegram's ecosystem at an institutional scale.