A TON Strategy? Telegram-linked Online Marketer to Raise $558 Million for Treasury
Main Idea
Verb Technology is rebranding to TON Strategy and will use proceeds from a private placement to accumulate Toncoin, with its stock price surging 140% following the announcement.
Key Points
1. Verb Technology is rebranding to TON Strategy and will use $558 million from a private placement to accumulate Toncoin.
2. The company’s stock price soared 140% to $22.68 on Monday after the announcement.
3. Toncoin, linked to The Open Network (TON), is officially separate from Telegram but was originally conceived by its founders.
4. Telegram mini apps will be required to use TON under a new deal, including games like Hamster Kombat.
5. Despite the announcement, Toncoin’s price fell 6.9% to $3.41, though it has risen 24% over the past month.
Description
The Open Network and Telegram inked an "exclusivity deal” last month.
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