Telegram co-founder Pavel Durov has drawn global attention to a landmark development in the crypto and financial markets.
US-listed company Verb Technology (NASDAQ: VERB) has committed $558 million to acquire Toncoin (TON), the native token of The Open Network blockchain.
In a series of posts on X, Durov emphasized that this marks the first time a company with significant TON holdings has been publicly listed in the United States.
He also noted that VERB’s strategy is to continuously accumulate Toncoin, with no plans to sell, aligning with a long-term vision of capital appreciation and network support.
VERB Stock Doubles, Gains $1 Billion Market Cap on First Trading Day
The impact of the Toncoin acquisition strategy was immediately felt in the public markets.
Following the announcement, VERB’s stock skyrocketed over 100%, leading to the firm attaining a market cap of over $1 billion on day one and thus entering “unicorn” territory.
The $558 million funds raised through an oversubscribed PIPE (private investment in public equity) sale were led by more than 110 institutional and crypto-native investors.
Notably, Kingsway Capital, Vy Capital, Blockchain.com, and Ribbit Capital appear among the backers. The deal involves the sale of about 58.7 million shares at $9.51 per share and is expected to close around August 7th.
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TON Becomes Core Treasury Asset as VERB Rebrands to “TON Strategy Co.”
Following the closure of the deal, Verb Technology plans to rebrand itself as TON Strategy Co. (TSC) and transform into a long-term treasury asset holder for Toncoin, in a move reminiscent of MicroStrategy’s legendary Bitcoin strategy.
According to Durov, this approach mirrors how MicroStrategy used Bitcoin to grow from a $1 billion to a $100+ billion valuation in five years.
TSC will aim to become one of the world’s largest Toncoin holders, not only holding the token but also generating returns through sustainable staking rewards, positioning the company as both a financial and infrastructural powerhouse within the TON ecosystem.
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TON’s Deep Integration With Telegram Fuels Investor Confidence
TON, originally developed by Telegram, has become the backbone of the platform’s economic ecosystem.
Durov highlighted that everything on Telegram, from creator payouts and ad payments to mini apps and digital collectibles, is powered by TON.
The blockchain now ranks as the No.2 network by daily NFT trading volume, trailing only Ethereum.
With Telegram boasting hundreds of millions of global users, TON’s utility and transaction volume continue to scale rapidly.
Investors view TON not just as a cryptocurrency, but as the financial infrastructure of one of the world’s most-used messaging platforms.
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Leadership and Strategic Vision Drive Bullish Sentiment Around VERB
Under the upcoming TON Strategy Co. banner, the company will be led by a seasoned team: Manuel Stotz (incoming Executive Chairman), Veronika Kapustina (CEO), and Sarah Olsen (CFO), with Peter Smith of Blockchain.com serving as Special Advisor.
Stotz expressed strong confidence in TON’s long-term potential, noting that a permanent capital structure is ideal for holding assets like Toncoin that offer both appreciation and staking yield.
While the company’s core operations will continue, the TON-focused treasury strategy is set to define its identity going forward.
With significant institutional support and visionary leadership, VERB (soon TSC) is positioning itself as a strategic long-term play in both the crypto and equity markets.
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Market Reaction Mixed as TON and VERB Prices Decline
Despite a strong institutional backing and a clear strategic roadmap, the market has been bearish in the very short term.
Currently, Toncoin is trading at $3.19, down 5.14% in the past 24 hours, and has lost 6.73% over the week, with its market cap just shy of $7.7 billion.
Also, VERB stock price has shown bearish momentum after it closed today at $19.02, falling 6.86% after its initial spike that initially doubled its price a day back.
The price declines noted on both parties reflect the overall volatility in the crypto market and investor caution.
It is essential to keep a broad perspective in view, noting that long-term positioning of VERB and TONCOIN should see both token and stock on a sustainable growth path in the future.
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