AlphaTON Capital Announces $100M Toncoin Treasury Strategy Shift

AlphaTON Capital, previously known as Portage Biotech Inc., has completed a strategic pivot from biotechnology to digital assets. The company secured $38.2 million through private placement and obtained a $35 million collateralized loan from BitGo Prime. These funds will be deployed to acquire approximately $100 million worth of Toncoin (TON), establishing a dedicated corporate treasury. Following the announcement, the company's shares surged 15%, demonstrating strong investor confidence in this new strategic direction.

The company's focus on TON is driven by its symbiotic relationship with Telegram, which provides a seamless on-ramp for its billion-plus users into the Web3 ecosystem. This move highlights the growing institutional appetite for cryptocurrency treasuries, effectively blending traditional investment practices with blockchain validation and ecosystem expansion.

AlphaTON's Nasdaq ticker will transition from PRTG to ATON, with Brittany Kaiser—a prominent data rights advocate and cryptocurrency thought leader—assuming the role of CEO. The transaction is scheduled to close by September 5.