Summary: Ton Foundation seeking $400M to setup public treasury company to accumulate Toncoin

Toncoin's Bold Bid: Chasing MicroStrategy's Success with a $400M Treasury The TON Foundation, with Kingsway Capital Partners, is reportedly seeking $400 million. This substantial sum is for establishing a public treasury company to accumulate Toncoin. The strategy boldly mirrors Michael Saylor's MicroStrategy, whose Bitcoin-holding approach led to over 3,400% stock appreciation. A Private Investment in Public Equity (PIPE) structure is planned, selling shares of a publicly traded entity to investors. Kingsway Capital, led by Manuel Stotz, who also heads the TON Foundation, may be a key investor. Though no official statements exist, banking services are reportedly managed by Cohen & Co. Cantor Fitzgerald has also expressed interest in similar Toncoin-focused public companies, indicating a growing trend. Despite recent volatility and a clarified UAE golden visa controversy, Toncoin holds strong as the 27th-largest crypto, with an $8 billion market cap. This funding aims to solidify Toncoin's market standing and accelerate the TON blockchain's expansion, particularly in the US. The crypto community is keen to see if this "Saylor-inspired" play will bring similar success to the Toncoin ecosystem.