Major Nasdaq Firm Bets $558 Million on Toncoin (TON)
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Aug 05 2025Rebranding and Investment: Following a $558 million private placement, the social commerce tech firm will rebrand as TON Strategy Co. and use Toncoin (TON) as its main treasury asset, with plans to acquire approximately 5% of its circulating market value in TON.
Leadership Changes: Kingsway Capital CEO Manuel Stotz will become Executive Chairman, while Peter Smith from Blockchain.com will serve as a special advisor; Veronika Kapustina is appointed CEO, and Sarah Olsen takes on the CFO role, with the company remaining listed on Nasdaq under the ticker VERB.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
