Ah, TON Strategy Company-formerly known as Verb Technology-has decided to play a bold game of “Trust us, we’re doing great” by buying back 250,000 of its own shares. How much are they putting on the line, you ask? A casual $250 million, because what’s a little market volatility when you’ve got so much confidence in your future?
The company took to the podium to announce that they had repurchased these shares at the laughably low price of $8.32 each-well beneath the treasury’s asset value of $12.18. Classic move. Just weeks before, they revealed a hefty $713 million reserve of Toncoin (TON) tokens, flaunting their confidence in the TON ecosystem. That’s right, this is not just about stocks; it’s about faith. Who needs actual results when you have faith, right?
TON, in case you didn’t know, is the native cryptocurrency of The Open Network-a project that was conceived in 2018, originally aimed at bringing blockchain to messaging service Telegram. It’s currently ranked No. 22 in market capitalization, though its price has plummeted a staggering 40.7% year-to-date. But hey, what’s a little loss when you’re still high up on the list? Keep those spirits high!
And, just to add some seasoning to the situation, the repurchase announcement didn’t go down well with investors-no surprise there. Shares fell by 7.5%. The company’s stock is now down by 21.6% since they decided to start stockpiling that delicious Toncoin. Such joy!
But the plot thickens. TON Strategy also announced its entrance into staking operations, probably in an attempt to salvage whatever dignity they have left. “Staking introduces a recurring revenue stream into our model, while buybacks allow us to enhance shareholder returns,” said Veronika Kapustina, the company’s CEO. Oh, Veronika, how we love the sweet sound of corporate jargon!
Staking-locking up cryptocurrency to support blockchain operations in exchange for rewards-is their new shiny tool. They’re hoping it will somehow generate income. As it stands, the TON network has 340 validators actively staking, with a mind-boggling annual reward rate of 4.8%. Will this be the magical solution to their woes? Only time will tell, but at least it’s better than, you know, actual revenue.
TON Treasury Companies and Other DATs
In August, TON Strategy made history as the first publicly traded company to create a Toncoin treasury. An honor, really. Meanwhile, Bloomberg reported in July that the TON Foundation and Kingsway Capital Partners (a prestigious London-based investment management firm, of course) sought to raise at least $400 million to start their own TON treasury company. How delightful!
And because no one can resist a good competition, crypto exchange Coinbase recently chimed in, stating that crypto treasury companies are now entering a “player vs player” stage where finding investor money is going to be harder than ever. Great news for everyone involved. We’ll all just sit back and watch the battle unfold.
To wrap it up, the New York Digital Investment Group chimed in on Sunday, predicting that premiums for these companies will continue to narrow. Maybe they’ll all collapse into a black hole of financial despair, or maybe they’ll survive. But hey, who doesn’t love a little drama?
Read More
- BTC PREDICTION. BTC cryptocurrency
- EUR USD PREDICTION
- USD JPY PREDICTION
- ETH PREDICTION. ETH cryptocurrency
- USD VES PREDICTION
- GBP JPY PREDICTION
- USD TRY PREDICTION
- USD KZT PREDICTION
- GBP EUR PREDICTION
- EUR CHF PREDICTION
2025-09-12 23:19