Nasdaq-Listed Verb Technology Rebrands to TON Strategy Co., Commits $558M to Toncoin (TON) Investment

Verb Technology Company, a Nasdaq-listed firm, is shifting its focus toward blockchain with a significant rebranding and capital allocation strategy. The company will now operate under the name TON Strategy Co. and plans to invest part of a newly secured $558 million into Toncoin (TON), the native cryptocurrency of The Open Network—a blockchain ecosystem associated with Telegram.

The funding, obtained through a PIPE agreement expected to finalize around August 7, involved participation from more than 110 investors, including prominent names like Kingsway Capital, Pantera, and Animoca Brands. Share pricing was set at $9.51, consistent with the company's market closing price on August 1.

About 77% of the capital will be retained as cash reserves, while the remaining portion will be used to purchase TON, aiming to acquire approximately 5% of its circulating supply. This strategic MOVE highlights increasing institutional interest in blockchain-native assets and aligns with Telegram's broader Web3 initiatives.