Verb Technology Shifts to Toncoin (TON) Strategy in $558M Crypto Transformation

Verb Technology Company (NASDAQ: VERB), a social commerce platform known for livestream sales, is making a major pivot into cryptocurrency. The company revealed a $558 million private placement to adopt Toncoin (TON) as its primary treasury reserve asset, positioning itself as the first publicly traded entity to hold TON.

The deal, set to close by August 7, includes a rebranding to TON Strategy Co. The funds will be used for large-scale TON acquisitions and staking programs, potentially establishing the company as one of the largest institutional holders of TON worldwide. The PIPE transaction priced shares at $9.51, matching the August 1 closing price.

A syndicate of leading investors, including Kingsway Capital, Blockchain.com, Vy Capital, and Pantera Capital, participated in the offering. This MOVE highlights increasing institutional confidence in the TON ecosystem and represents a rare instance of a public company restructuring its treasury strategy around a single cryptocurrency.