Something big just happened in crypto and it’s turning heads and financial markets, Verb Technology Company (NASDAQ: VERB) has raised $558 million to pivot into the world’s first publicly listed treasury company focused on Toncoin ($TON), the native cryptocurrency of The Open Network (TON) blockchain. Announced on August 4, 2025, this strategic shift culminating in a rebrand to TON Strategy Co. (TSC) marks a significant milestone for the TON ecosystem and its integration with Telegram’s billion-user platform. As the crypto world watches, this move could redefine institutional adoption and mass-market cryptocurrency use. Let’s break it down step by step.

The Deal: A $558M Leap into Toncoin

Verb Technology, previously known for its social commerce software, closed a private placement (PIPE) deal on August 8, 2025, raising $558 million from over 110 investors. Led by Kingsway Capital and anchored by heavyweights like Vy Capital, Blockchain.com, Ribbit Capital, and Graticule (GAMA), the investor pool also includes CMCC Global, Pantera Capital, MEXC Ventures, ParaFi Capital, Luxor Capital, Arrington Capital, Animoca Brands, Kraken, BitGo, FalconX, Orbs Group, The Open Platform (TOP), TVM Ventures, Kenetic, Hivemind Capital, UNCAP, Pacific Coast Venture Partners, and founders like Guy Young of Ethena Labs. This diverse coalition of crypto-native and traditional finance players signals strong confidence in the TON vision.

The proceeds will primarily fund the acquisition of $TON as VERB’s primary treasury reserve asset, with an initial purchase of $272.7 million worth of Toncoin at $1.83 per coin. Unlike market buys, this strategic transfer emphasizes long-term conviction, with VERB committing to “never sell, only buy more over time,” mirroring MicroStrategy’s successful Bitcoin treasury strategy that grew its market cap from $1 billion to over $100 billion in five years. Additionally, VERB filed an SEC Form S-3ASR, allowing up to $1 billion in securities issuance, including an “at-the-market” program, positioning it for further growth.

Leadership and Execution

The rebranded TON Strategy Co. is helmed by a seasoned team:

  • Executive Chairman: Manuel Stotz, CEO of Kingsway Capital and President of the TON Foundation.

  • CEO: Veronika Kapustina, a former TON Foundation advisor with a Morgan Stanley banking background.

  • CFO: Sarah Olsen, ex-head of corporate development at Onyx by JP Morgan.

  • Special Advisor: Peter Smith, CEO of Blockchain.com.

This leadership blend of blockchain expertise and traditional finance acumen aims to bridge Web3 and Wall Street, enhancing transparency and legitimacy as an SEC-governed public company.

Market Reaction and Metrics

The announcement triggered a stock surge, with VERB jumping over 100% intraday on August 4, peaking around $29 before stabilizing between $17-20 by August 8. As of today, August 13, 2025, the stock hovers in the $16-20 range, reflecting volatility amid broader market trends. The investor presentation, outlines ambitious targets:

  • Telegram User Base: 1 billion+ monthly active users

  • Onboarding Goal: 500 million users to the TON blockchain by 2028.

  • Transaction Growth: A staggering 2,492% increase last year.

  • Market Cap Comparison: #TON is 11x lower than Solana ($SOL) and 51x lower than Ethereum.

  • Ecosystem Utility: Deep integration for ads, mini-apps, NFTs, gifts, usernames, and anonymous numbers.

  • Staking Yields: Superior returns to support treasury growth.

  • UI/UX Advantage: A simple interface for mass adoption without technical complexity.

Industry Buzz and Validation

The move has sparked enthusiasm across the crypto landscape, as highlighted in Viktor’s thread:

  • Michael Saylor (MicroStrategy CEO): In a Fox News appearance, Saylor previously a Bitcoin maximalist praised Telegram’s wallet for enabling “money at the speed of light” for potentially a billion users, hinting at a shift in his stance amid TON’s upcoming tgBTC launch for seamless Bitcoin transactions.

  • Pavel Durov (Telegram CEO): Described it as a “historic milestone,” noting VERB’s $558 million deployment to accumulate $TON (never selling) and TON’s #2 ranking in NFT trading volume behind Ethereum.

  • Andrew Rogozov (TOP Labs Founder): Called moving money (like BTC) at light speed the “most exciting innovation.”

  • Ran Neuner Endorsed it as “100% my thesis!”

  • Mario Nawfal: Labeled it a “game-changer,” akin to owning a stake in Telegram’s financial revolution.

  • Max Crown (TON Foundation CEO): Emphasized long-term conviction via strategic TON transfers, not market buys.

  • Balaji Srinivasan: Framed it as the emergence of a “Telegram network state” with a currency matching its billion-user scale, overcoming regulatory hurdles.

These reactions underscore TON’s potential to leverage Telegram’s vast user base for mass adoption.

Implications for the TON Ecosystem

This pivot positions TON for significant growth:

  • Institutional Exposure: As a NASDAQ-listed entity, VERB offers US investors indirect TON exposure, potentially attracting billions in capital. With TON Wallet live for 87 million US users, this could accelerate institutional interest.

  • Ecosystem Expansion: TON powers Telegram’s payments, rewards, and tokenized assets (e.g., usernames, NFTs), reinforcing its role as the economic backbone. The exclusive blockchain partnership with Telegram, announced recently, mandates TON Connect for all mini-apps, boosting adoption.

  • Price Catalyst: Permanent buying pressure from VERB’s treasury, combined with staking yields, could drive $TON’s price upward. Currently undervalued compared to $SOL and $ETH, TON’s 2,492% transaction growth suggests room for appreciation.

  • Risks: Crypto market volatility, regulatory scrutiny (e.g., SEC compliance), and execution challenges pose risks. VERB’s stock volatility post-announcement reflects market uncertainty.

The Bigger Picture: A Network State Emerges

Balaji Srinivasan’s “network state” concept resonates here. Telegram’s 1 billion users, paired with $TON’s scalability (supporting microtransactions and high throughput), could create a digital economy beyond bureaucratic control. The resolution of regulatory battles such as the SEC’s past injunction on TON and Pavel Durov’s recent legal issues in France, mitigated by UAE intervention signals a thawing of resistance. This aligns with a technodemographic shift where network leaders like Durov may wield more legitimacy than traditional heads of state.Conclusion: Crypto in Every Pocket?TON Strategy Co.’s launch is a bold step toward institutionalizing TON and embedding crypto into daily life via Telegram. If VERB replicates MicroStrategy’s success where $46 billion in Bitcoin at $73,000 average price fueled growth TSC could make history with $TON. For investors, monitoring SEC filings, $TON on-chain metrics, and Telegram’s rollout (e.g., tgBTC) is crucial. For the curious, this is a front-row seat to a potential digital nation. As Viktor aptly concludes, “Crypto in every pocket is the goal.”Disclaimer: This article is for educational purposes only. Conduct your own research and consult financial advisors before investing.

Sources:

  • X Thread by Viktor (@s0meone_u_know)

  • Cointelegraph: “Verb stock soars 200% after announcing TON treasury plan” (August 4, 2025).

  • TON Foundation Blog: “TON expands partnership with Telegram” (Recent).

  • NASDAQ and SEC Filings

$TON