US-based Verb Technology Company has announced a major move into the TON ecosystem by acquiring Toncoin worth $713 million, increasing its total assets to $780 million.
Acquisition of Toncoin
According to the official press release, the company's total assets amount to $780 million, consisting of 713 million TON coins and 67 million dollars in cash reserves. The purchase represents 5% of TON's circulating supply.
Company's Strategic Plans
The company plans to change its name to 'TON Strategy Company' and will continue to increase its TON holdings through staking rewards, cash flow investments, and capital markets activities. Chairman Manuel Stotz commented: 'Reaching $780 million in assets in just a few days demonstrates our strong belief in TON. This means not only growing our balance sheet but also contributing to the security of the TON blockchain.'
Market Reaction to News
Despite the significant acquisition, no noticeable movement was observed in the TON price chart, and a slight decline occurred.
Verb Technology makes a significant entry into the TON ecosystem with a major investment, yet market reactions indicate a lack of notable price changes.
