Verb Technology, soon to be rebranded as Ton Strategy Company, has acquired $713 million worth of Toncoin (TON), the native token of The Open Network linked to Telegram. This purchase represents about 8.5% of TON’s circulating supply, surpassing the company’s original goal to hold over 5%. 

The firm raised $558 million in a private placement earlier this month, bringing its total treasury assets to $780 million—including $713 million in TON and $67 million in cash. Verb is now the largest publicly traded company holding TON tokens, aiming to bolster the network’s economic foundation. 

Manuel Stotz, Verb’s executive chairman and former TON Foundation president, emphasized the company’s commitment to strengthening the project. TON powers Telegram’s web3 infrastructure and has approximately 2.6 billion tokens in circulation from an initial 5 billion supply.

source: TON Strategy

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