Verb Technology "goes big": Acquires 713 million USD in Toncoin, rebrands as Ton Strategy Company

Verb Technology Company, Inc. – a technology company listed on the Nasdaq – has made waves by announcing the purchase of 713 million USD in Toncoin ($TON ), equivalent to 8.5% of the total circulating supply. This is the opening move in a strategy to build a crypto treasury, along with plans to rebrand as Ton Strategy Company.

The company's current treasury consists of 713 million USD in TON and 67 million USD in cash. Verb's Chairman, Mr. Manuel Stotz, who currently holds the Chairman position #TONFoundation , announced he will resign to fully focus on driving this strategy, while also committing to strengthening TON's cybersecurity and increasing the value of TON per share through staking and reinvesting cash flows.

The deal demonstrates Verb's ambition to follow a similar path to MicroStrategy with Bitcoin, becoming the first "big player" to make a strong bet on TON. This move comes at a time when TON – the blockchain associated with Telegram and the Mini Apps ecosystem – is losing momentum, with TVL hovering around 148 million USD and TON's price stagnating.

However, faith in TON has not waned: previously, Coinbase Ventures also purchased Toncoin directly from the TON Foundation. Coupled with the growing wave of "crypto treasuries," Verb could become a "new breath of fresh air" to help revive TON.

📈 Notably, Verb's stock has increased by over 120% in the past month after announcing this bold strategy. #anh_ba_cong