TON Foundation and Kingsway Capital Unveil $400M Toncoin Treasury Venture

The TON Foundation, alongside Kingsway Capital, is launching a $400 million initiative to create a public company focused on Toncoin. This strategic move follows MicroStrategy's proven model of using public equity markets to establish institutional crypto exposure. Funding will be raised via a Private Investment in Public Equity (PIPE) transaction, with proceeds allocated to acquiring Toncoin (TON), the native cryptocurrency of the Telegram Open Network blockchain.

Drawing parallels to MicroStrategy's success—its stock skyrocketed 3,400% over five years due to Bitcoin holdings—this venture highlights the potential of crypto treasury strategies. Key supporters include Manuel Stotz of Kingsway Capital, who also chairs the TON Foundation. Advisory roles feature Cohen & Co., known for a prior $1.5 billion Ethereum-related deal, and Cantor Fitzgerald, a firm with a track record of backing crypto treasury projects.