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Verb Technology will be renamed Ton Strategy with asset value reaching $780 million.
[BitPush] Verb Technology Company, Inc. (NASDAQ: VERB, will be renamed Ton Strategy Company) today announced that the company's treasury assets have exceeded 780 million dollars, including 713 million dollars in Toncoin (TON) and 67 million dollars in cash.
Previously, Verb Technology completed a private placement of $558 million on August 8, with over 110 institutional and crypto-native investors participating. The company plans to use most of the funds raised from the private placement to purchase TON as a primary treasury reserve asset. The goal is to accumulate more than 5% of the circulating supply of TON.