VERB Technology Company is a company focused on acquiring Toncoin (TON) and has announced that it has accumulated approximately $713 million in TON and $67 million in cash, with total assets exceeding $780 million.
The company completed a $558 million private placement in August, causing its stock price to soar over 200%. According to a Thursday announcement, most of the funds have been used to purchase TON.
VERB has set a goal to hold 5% of the circulating supply of this altcoin, which amounts to 128 million tokens, through the issuance of corporate bonds and equity, as well as staking for additional rewards.
The number of altcoin treasury companies continues to increase, providing Wall Street with cryptocurrency investment channels. However, investor opinions are divided; some believe it has the potential to surpass the returns of direct coin holdings, while others warn of excessive leverage risks.
When companies hold cryptocurrencies, high levels of debt can trigger a chain liquidation during market downturns, further impacting digital assets and stock prices, potentially leading to a prolonged crypto bear market.
In August, multiple companies announced altcoin treasury strategies or expanded their reserves, with varying levels of acceptance among investors regarding altcoin treasury policies.
Bitcoin mining company Bit Mining made its first purchase of Solana (SOL) on August 5, while several companies increased their holdings in SOL.
Publicly listed energy company VivoPower expanded its Ripple (XRP) reserves in August, resulting in a 32% increase in its stock price.
Fintech company ALT5 Sigma Corporation raised $1.5 billion through equity financing for its World Liberty Financial (WLFI) treasury. WLFI is a governance token for a decentralized financial protocol supported by members of former U.S. President Trump's family.
Beverage company Safety Shot announced plans to use the BONK meme coin as a reserve asset, leading to a more than 50% drop in the company's stock price.
Biotech company Windtree Therapeutics, as a BNB reserve company, saw its stock price drop 77% on Wednesday after being announced for delisting due to not meeting Nasdaq compliance standards.
Related: As adoption expands, wealthy Asian investors allocate 5% of their portfolios to cryptocurrency.
Original: “Altcoin Treasury Race: VERB TON Acquisition Company Announces $780 Million in Assets”
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