Verb Technology’s Bold Plan to Bet $558 Million on Toncoin (TON)
In an unexpected move that has shaken up both the crypto and traditional finance realms, Verb Technology Company Inc. (Nasdaq: VERB) has spread the word about an upsized and oversubscribed private placement (PIPE). This initiative is expected to bring the company approximately $558 million in gross proceeds.
Thus, the company targets a major pivot as it intends to rebrand as TON Strategy Co. (TSC) and turn into the first publicly traded treasury company that has chosen TON, the native crypto of The Open Network blockchain, as its reserve asset.
This strategic move puts Verb Technology in the same row as the new generation of firm,s which are striving to repeat the success of Michael Saylor’s (Micro)Strategy, which is famous for starting to actively accumulate Bitcoin as its reserve asset in August 2020. Now, Strategy holds more than 600,000 Bitcoins. By copying this playbook, Verb Technology is making a bet on the future of the blockchain network initially created by the Telegram team and now backed by it. Telegram’s influence in the tech sphere is massive since it remains one of the largest and most popular messengers and social media platforms.
Nasdaq-traded tech firm turns into crypto treasury company
The private investment offer in Verb Tech’s private equity (PIPE) involves the sale of roughly 58.7 million shares of the company’s common stock, reflecting the closing market price as of August 1, 2025. More than 110 financial institutions and crypto-native investors have subscribed to this deal already. Among them are Kingsway Capital, Blockchain.com, and Rabbit Capital. As a result, the offering was oversubscribed and then upsized. The transaction is expected to close around August 7.
Once the offering is closed, the newly rebranded TON Strategy intends to invest the majority of the proceeds in Toncoin to bet on it as its primary treasury reserve asset. If this happens as planned, Verb Technology will become one of the world’s largest TON holders. This will allow it to profit from staking rewards and ensure a cash-flow-positive strategy. Aside from acquiring a large amount of TON, the firm intends to expand its current operations and integrate this new treasury TON strategy into its expanding business framework.
Among the executive team will be Executive Chairman Manuel Stotz, the founder of Kingsway Capital and current President of the TON Foundation, and Veronika Kapustina, a former Senior Advisor to the TON Foundation. Former top executives of banking giants Morgan Stanley and JPMorgan will join them. Peter Smith, the CEO and co-founder of Blockchain.com, is to step in as a Special Advisor.
TON and Telegram merging into one crypto system
TON’s integration with the Telegram app offers immensely wide prospects for TON’s adoption. Telegram possesses more than one billion monthly active users around the world. Besides, it has become one of the leading platforms where the global crypto community prefers to communicate. TON in the only blockchain integrated with the Telegram ecosystem to power ad payments, tokenized assets such as usernames, NFTs, and mini apps, including popular tap-to-earn games.
Earlier this year, the TON wallet used on Telegram went live for almost 90 million US users of the messaging app.
Overall, high interest among institutional investors at that high level demonstrates rising confidence of financial institutions in digital assets other than Bitcoin and Ethereum.
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Strategy and its copycats keep stacking Bitcoin
The aforementioned move of Verb Technology mirrors the treasury strategy of Michael Saylor’s firm, Strategy (MicroStrategy rebranded). Saylor’s company has been accumulating Bitcoin over the past five years, regardless of the Bitcoin price volatility, and has been raising billions of dollars to do that by issuing various types of stocks backed by its BTC holdings and delivering Bitcoin yield to investors.
Last week, Strategy announced the acquisition of a mind-blowing 21,021 BTC for approximately $2.46 billion at roughly $117,256 per Bitcoin. As of July 30, the company’s holdings comprise a whopping 628,791 BTC valued at more than $71 billion at the current BTC/USD exchange rate.
Strategy is now the largest Bitcoin treasury company. Other firms that follow a similar strategy continue to acquire Bitcoin as well, following the same principle. Among them are Metaplanet and H100 Group. The former bought 463 BTC for $53.7 million, now holding a total of 17,595 BTC worth $1.78 billion. H100 Group has acquired an additional 56.9 BTC.
Some companies have begun buying Ethereum to hold it as a treasury asset. Now this reserve strategy includes Toncoin. With the growing popularity and impact of Telegram as a messaging and social media platform with the TON blockchain integrated with it, odds are high that other companies will choose TON as a treasury asset in the future, too.
