Verb Technology has announced plans to launch the first-ever publicly listed Toncoin (TON) treasury. Verb is betting its future on the growing influence of The Open Network with a bold $558 million fundraising plan. The company has joined the growing list of public companies that add digital assets to their balance sheet. As part of the move, the Verb is also rebranding itself. Rebranding to TON Strategy and Entering the Crypto Scene The Nasdaq-listed firm has revealed plans to completely reshape its business direction. As part of its shift toward blockchain finance, the company will soon rebrand to TON Strategy Co. This change reflects its full commitment to adopting Toncoin as its main treasury asset. Toncoin is the native token of The Open Network (TON), a blockchain ecosystem that is quickly gaining attention . This new direction is being developed in partnership with Kingsway Capital, a firm that has previously worked with the TON Foundation. Earlier reports revealed that Kingsway and the TON Foundation raised up to $400 million for a similar treasury initiative. Verb’s involvement appears to build on that earlier effort, pushing the total scale even further. Verb to Become First Public Toncoin Treasury Holder As part of the funding deal, Verb shared that it has entered into a Private Investment in Public Equity (PIPE) transaction with accredited and institutional investors. The agreement includes the purchase of nearly 58.7 million shares of common stock at $9.51 each. This sale secures $558 million in gross proceeds for the company. The deal is expected to close on or around August 7, pending standard closing conditions. Once complete, the funds will be used to build a strong TON treasury. Also the company hopes to earn rewards through staking. This move will make Verb the first publicly traded company to use Toncoin as its primary reserve asset and one of the largest holders of Toncoin in the world. Verb’s Stock Jumps After News, But TON Price Drops The stock market reacted fast. After the TON treasury news, Verb’s share price shot up by as much as 100%. Although the price later pulled back, the stock still traded at around $15 in premarket, over 50% higher than its earlier levels. In the last month alone, the stock has climbed over 38%, with a 45% year-to-date gain. This sudden jump highlights a growing trend. Public companies that tie their future to cryptocurrency often receive a strong boost from the market. While Verb’s stock price gained, the price of Toncoin fell. Over the last 24 hours, TON has dropped by 7.5%, currently trading at $3.38, according to CoinMarketCap data. Some experts think the market may have already reacted to the news before it was officially announced. On August 2, TON rose by 7%, even though most other cryptocurrencies were losing value at the time. The post Verb Technology Bets Big on Toncoin with $558M Crypto Treasury Plan appeared first on TheCoinrise.com .
