Verb Technology announces $558 million private placement, plans to establish the first publicly listed TON treasury company

A publicly listed Toncoin ($TON) treasury company will be established in partnership with Kingsway Capital. The company plans to change its name to TON Strategy Co. (TSC), with the majority of the funds used to acquire $TON, becoming one of the world's largest $TON holders. The transaction is expected to close on August 7th. TSC will use $TON as its primary reserve asset and generate returns through staking. Over 110 institutions, including Kingsway Capital, Vy Capital, and Blockchain.com, participated in the investment.