Verb Technology to Raise $558 Million in Private Funding for TON Reserve Strategy

BlockBeats News, August 4th, according to market sources, Verb Technology Co. (NASDAQ: VERB) announced a private placement of approximately $558 million with Kingsway Capital to establish the first publicly traded TON financial strategy company.

BlockBeats previously reported that Kingsway Capital's Founder and CEO, Manuel Stotz, disclosed at the end of June that the institution's largest holding of tokens to date is TON, and the venture capital firm started buying TON tokens two years ago (earlier than Pantera Capital).

Bloomberg also reported on July 24th that the TON Foundation and Kingsway Capital plan to raise $400 million for the Toncoin treasury.