24/7 Cryptocurrency News

TON Foundation To Raise $400M For Toncoin Treasury Company

TON Foundation is teaming up with Kingsway Capital to launch a Toncoin treasury company, raising $400 million to acquire TON.
Published by
TON Foundation To Raise $400M For Toncoin Treasury Company

Highlights

  • TON Foundation is striking a partnership with Kingsway Capital to float a TON Treasury company.
  • The incoming company will be publicly listed with Kingsway tipped to be a frontline investor.
  • TON price spiked amid the development to trade at $3.16.

TON Foundation has its sights on joining the trend of cryptocurrency treasury companies, exploring an arrangement with Kingsway Capital Partners. Both entities will float a publicly listed company that will buy and hold Toncoin on its balance sheet.

Advertisement

TON Foundation To Launch Toncoin Treasury Company

According to a Bloomberg report, TON Foundation and Kingsway Capital Partners are inching closer to launching a public company to accumulate Toncoin. The duo is seeking to raise as much as $400 million from a pool of investors to advance the company’s Toncoin treasury operations.

While details of the incoming Toncoin treasury company remain under wraps, there is speculation that the parties will lean on a special purpose acquisition company (SPAC) to go public. Bloomberg sources revealed that the unnamed company will turn to a private investment in public equity (PIPE) to raise funds.

Led by Kingsway Capital, several investors will privately purchase shares in the new company at a discount, with the company using the raised capital to fund its TON purchases.

Amid the announcement, the TON price surged by nearly 2% to trade at 3.16, leaving the market capitalization at 7.68 billion. However, TON’s daily trading volumes are down by 18% over the last day amid fears of a broad cryptocurrency market correction led by Ethereum.

Since the start of the year, crypto treasury companies have grown by leaps and bounds, with Bitcoin treasuries leading the charge. Ethereum treasury companies, led by SharpLink Gaming and BitMine, are keeping pace with corporate holders of Bitcoin.

Other altcoins like Solana have recorded an influx of treasury companies spearheaded by Sol Strategies and DeFi Development Corp. Early in the day, Nature’s Miracle unveiled an XRP treasury plan while BNB’s all-time high was driven by frenetic corporate adoption.

TON Foundation is keen on moving on from its $135,000 UAE Golden Visa offer fiasco that turned out to be a premature announcement without any government backing. At the time, TON Foundation announced that investors would receive a 10-year UAE Golden Visa for staking $100,000 worth of TON for three years.

Share
Aliyu Pokima

Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he's not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Bitcoin News

Bitcoin Treasuries Add Nearly $1B BTC This Week as Holdings Cross 1M BTC

This week, corporate Bitcoin treasuries exceeded 1 million BTC in total holdings. From September 1…

September 7, 2025
  • Bitcoin News

Peter Schiff Criticizes Bitcoin’s Performance Following Gold’s Rally To New ATH

Popular gold advocate Peter Schiff has criticized Bitcoin’s weakness against gold, calling it near bear…

September 7, 2025
  • Bitcoin News

Arkham Uncovers $5 Billion in Untouched Bitcoin From Germany’s Movie2K Seizure

Arkham Intelligence has identified 45,000 Bitcoin (BTC), valued at nearly $5 billion, that remains untouched…

September 7, 2025
  • 24/7 Cryptocurrency News

Ethereum Spot ETFs Record $447 Million in Outflows Amid Crypto Market Decline

Ethereum ETFs faced a sharp investor pullback this week, shedding nearly half a billion dollars…

September 6, 2025
  • 24/7 Cryptocurrency News

World Liberty Financial Discloses Reason for Blacklisting 272 Wallets

World Liberty Financial (WLFI) has confirmed that it blacklisted 272 wallets and explained why it…

September 6, 2025
  • 24/7 Cryptocurrency News

September 50 BPS Fed Rate Cut Odds Climb Ahead of CPI, PPI Data

Traders are beginning to price in the possibility of a 50 basis points (bps) Fed…

September 6, 2025