Mentioned:
A company on the Nasdaq is about to go all in on Toncoin. But, why?
What’s happening:
- Verb Technology Company (NASDAQ: VERB) has raised $558M USD in a new equity financing round to begin purchasing Toncoin to hold directly as an asset
- The new funding round was led by Kingsway Capital, Vy Capital and Ribbit Capital
Why it matters:
- This is the first publicly listed company to raise a large financing round for the sole purpose of acquiring Toncoin
Going deeper:
- Toncoin is the native currency of highly popular encrypted messaging app Telegram, which has more than 1B active monthly users
- The new company will be renamed TON Strategy and will be led by Manuel Stotz who is the president of the TON Foundation
