Verb Tech’s $558M TONcoin Pivot: 79% Surge Meets 14% Drop as Crypto Strategy Unfolds

Verb Technology Company, Inc. (VERB) shares experienced extreme volatility this week, surging 79% to over $30 before dropping 14% to $17. This rollercoaster followed the company's announcement of a $558 million private investment in public equity (PIPE) deal to fund its strategic shift toward cryptocurrency reserves, particularly Toncoin (TON).

The transaction, co-led by Kingsway Capital with participation from Vy Capital, Blockchain.com, and Ribbit Capital among others, involved issuing 58.7 million shares to over 110 institutional and crypto-focused investors. This MOVE signals Verb's ambitious transition into becoming a major treasury holder of TON, the native cryptocurrency of The Open Network blockchain.

While initial market reaction was bullish, sentiment quickly turned cautious as traders assessed the implications of Verb's radical pivot from its existing business model to digital asset management. The $558 million raise stands as one of this year's largest crypto-focused PIPE deals, highlighting growing institutional interest in blockchain-based treasury strategies.