Verb | Crypto

Public companies continue to diversify into altcoins, but with mixed effects on share prices and mixed reception from investors. VERB Technology Company, a Toncoin (TON) acquisition company, said it has accumulated about $713 million in TON and $67 million in cash, totaling over $780 million in assets. The company completed a $558 million private placement in August, sending its share price soaring by more than 200%. A majority of these funds were used to purchase TON, according to Thursday’s announcement. VERB has set a target to capture 5% of the altcoin’s circulating supply, about 128 million tokens, through issuing corporate debt and equity and staking to earn more rewards. Read more

Verb Technology has priced an oversubscribed $558 million private placement to pivot into a Toncoin (TON)-focused treasury vehicle in partnership with Kingsway Capital. According to an Aug. 4 statement, Verb plans to rebrand to TON Strategy Co. (TSC) post-close and become the first publicly traded treasury reserve for Toncoin (TON), expected on or around August […] The post Verb secures $558M to become first TON treasury vehicle, plans TON Strategy rebrand appeared first on CryptoSlate.