Nasdaq-listed Verb Technology has announced a significant strategic shift and a substantial funding round, positioning itself at the forefront of digital asset management within the public markets. The company secured over half a billion dollars to establish the first publicly listed entity primarily focused on holding Toncoin (TON) as a treasury reserve asset.
Landmark Funding and Rebranding
Verb Technology successfully raised an impressive $558 million through an upsized and oversubscribed private placement. This landmark financing round was spearheaded by Kingsway Capital and garnered participation from more than 110 institutional and crypto-native investors. Prominent backers include Vy Capital, Blockchain.com, Pantera Capital, Ribbit Capital, and Animoca Brands, underscoring strong market confidence in this new direction. The company is set to rebrand as TON Strategy Co. (TSC), with its core mission to deploy the majority of the acquired funds into purchasing and staking Toncoin.
A Strategic Pivot to Toncoin
This strategic pivot is driven by Verb's belief in Toncoin's immense adoption potential, largely due to its deep integration with Telegram's vast ecosystem of over 900 million users. The new treasury model aims to combine long-term digital asset holdings with consistent cash flow generation derived from staking rewards. This innovative approach positions TSC to capitalize on the growing utility and acceptance of blockchain assets. While embracing this crypto-native treasury strategy, Verb Technology will continue to operate its existing social commerce businesses, including its AI-driven video shopping platform MARKET.live and livestream commerce startup LyveCom, maintaining a diversified operational footprint. The new entity will be led by a strong team, with Kingsway founder Manuel Stotz chairing the company, Veronika Kapustina as CEO, and Sarah Olsen as CFO, alongside Peter Smith advising on crypto treasury operations.
