Toncoin (TON) Gets Its First Publicly Traded Treasury Company in the US
Main Idea
A NASDAQ-listed company has rebranded as TON Strategy Co. (TSC) and raised $558 million to acquire and stake Toncoin (TON), marking the first publicly traded treasury company for TON in the US.
Key Points
1. TON Strategy Co. (TSC) raised $558 million to focus on acquiring and staking TON, with backing from top-tier investors like Pantera Capital and Animoca.
2. The company's strategy leverages TON's integration with Telegram's 900 million users, supported by an executive team including former Morgan Stanley and JPMorgan professionals.
3. TON's market capitalization reached $9.23 billion, with its price rising 4.55% to $3.59 following the announcement.
4. The circulating supply of TON is 2.56 billion, with a total supply of 5.13 billion, resulting in a fully diluted valuation of $18.49 billion.
5. Coinbase Ventures has also started accumulating TON, signaling growing institutional interest in the asset.
Description
A NASDAQ-listed company has raised $558 million to pivot into a Toncoin treasury company The new entity will be rebranded as TON Strategy Co. (TSC) and will acquire and stake TON The deal creates the first publicly traded company for US investors to get exposure to TON NASDAQ-listed Verb Technology has raised over half a billion dollars to go all-in on Toncoin. The company has pulled in $558 million to turn its entire business, rebranded to “TON Strategy Co.” (TSC), becoming the first publicly t...
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