AlphaTon Capital's Shares Skyrocket Following TON Treasury Plan
Finance/Markets

AlphaTon Capital's Shares Skyrocket Following TON Treasury Plan

AlphaTon Capital has announced plans to invest $100 million in toncoin to establish a digital asset treasury firm.

AlphaTon Capital, a company listed on Nasdaq, has recently transitioned from Portage Biotch, announcing its intent to invest approximately $100 million in toncoin (TON). This move aims to create a digital asset treasury firm focused on offering exposure to the toncoin token.

The firm will operate under the ticker ATON starting September 4, managing the TON network infrastructure and fostering applications within the Telegram ecosystem, in addition to generating staking rewards.

In a related development, AlphaTon’s stock, still traded as PRTG, experienced a 14% increase, reaching a price of $7.91.

The TON blockchain, created by Telegram in 2018 but stagnated due to regulatory issues by 2020, was later endorsed by Telegram’s CEO Pavel Durov in 2021. AlphaTon’s strategy also includes a $35 million loan from BitGo aimed at expediting token acquisition and staking operations.

To facilitate this purchase, AlphaTon raised $38.2 million through a private placement.

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