Verb Technology Company logo on website. Source: Robert - stock.adobe.com

Key Takeaways:

Verb Technology rebranded to TON Strategy Co. and raised $558M to acquire and stake Toncoin, marking a pivot into crypto.
The company’s stock surged over 200%, peaking at $29.33 after the announcement of its crypto treasury strategy.
The raise was anchored by TON-affiliated investors, including Kingsway Capital and Blockchain.com, highlighting deep ties to the Telegram ecosystem.

Verb Technology Company surged over 200% intraday after announcing a $558 million private investment in public equity (PIPE) deal and rebranding to TON Strategy Co.

The former social commerce firm is pivoting into cryptocurrency by becoming the first publicly traded company to hold Toncoin (TON) – Telegram’s native blockchain token – as its primary treasury asset.

JUST IN: Nasdaq-listed Verb Technology commits $558M to launch the first public TON treasury strategy. pic.twitter.com/nlQfSlHXpU
— ChainDesk (@ChainDesk_) August 4, 2025

Verb issued around 58.7 million shares and pre-funded warrants at $9.51 each, pushing the stock to a high of $29.33 before settling near $27.

The raised capital will be used to acquire and stake TON, positioning the company as a crypto-native treasury reserve vehicle for institutional investors.

The raise was led by Kingsway Capital, whose CEO, Manuel Stotz – also TON Foundation president – will become executive chairman.

Other major backers include Blockchain.com, Vy Capital, Animoca Brands, and The Open Platform (TOP), all with existing ties to the TON ecosystem.

The move reflects a growing trend of public firms adopting altcoins for treasury management, with over $7.8 billion in crypto capital raises announced by 16 companies in late July alone – highlighting accelerating institutional adoption of blockchain assets.