Nasdaq-Listed Firm Bets Big on Toncoin with $558M Treasury Move

Edyme

August 4, 2025

According to Verb, about 77% of the raised funds will be held in cash reserves, while a large portion will be allocated to TON acquisitions

Verb Technology Company, a Nasdaq-listed firm known for its live video commerce and social selling solutions, is about to make a major pivot, and this time, it’s heading straight into the world of blockchain.

The company announced plans to raise $558 million in a private placement, which will primarily be used to acquire Toncoin (TON), the native token of The Open Network blockchain, making it the first publicly traded company to adopt TON as its main treasury reserve asset.

$558M Raise to Build One of the Largest TON Holdings

The deal, expected to close around August 7, involves the sale of roughly 58.7 million shares at $9.51 each, matching the stock’s closing price on August 1.

More than 110 investors are participating, with Kingsway Capital leading the round and support coming from names like Blockchain.com, Vy Capital, Pantera, Animoca, Arrington Capital, Kraken, and BitGo.

According to Verb, about 77% of the raised funds will be held in cash reserves, while a large portion will be allocated to TON acquisitions, estimated to make up around 5% of the circulating supply’s market value.

Once the transaction is completed, Verb will officially rebrand as TON Strategy Co., positioning itself as a major TON holder and staking participant. A part of the company’s share capital, about 36%, will be locked for six to twelve months as part of the agreement.

A new chapter with a crypto-focused leadership

The restructuring brings a new executive team on board. Manuel Stotz, CEO of Kingsway Capital and President of the TON Foundation, will serve as Executive Chairman, with Peter Smith, CEO of Blockchain.com, stepping in as a special advisor.

The company also announced Veronika Kapustina, a former TON Foundation advisor and ex-Morgan Stanley banker, as its new CEO, alongside Sarah Olsen, formerly of JP Morgan’s Onyx division, as CFO.

TON, backed by Telegram’s growing web3 ecosystem and reportedly over 1 billion active users, is gaining traction as a blockchain for mini apps, tokenized usernames, and ad payments.

Verb’s shift reflects a broader trend of public companies exploring digital assets as strategic treasury holdings, following moves by firms like MicroStrategy with Bitcoin.

For now, Verb’s shares will continue trading under ticker VERB on Nasdaq, with its headquarters remaining in Las Vegas and operational studios in Los Angeles.