TON Foundation Teams with Kingsway for $400M Public Treasury Spin-Off

Telegram News 2025-08-07 Create

The TON Foundation has joined forces with Kingsway Capital Partners to launch a public company holding Toncoin as its primary asset, aiming to raise $400 million via PIPE financing or SPAC to appeal to institutional investors.

TON price surged 2% to $3.16 and market cap topped $7.7 billion, although daily trading volume dipped 18%. The move could position Toncoin alongside Bitcoin and Ethereum as a mainstream treasury asset for hedge funds and family offices, boosting Telegram’s on-chain credibility.

TON Foundation Teams with Kingsway for $400M Public Treasury Spin-Off

source: Binance Square


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