AlphaTON announces a $100 million TON Treasury and rebrands Nasdaq as ATON
AlphaTON Capital, formerly known as Portage Biotech, has rebranded as ATON and is set to make its debut on Nasdaq under the new ticker. The company has announced a significant move by launching a $100 million TON treasury strategy, positioning itself as the second public firm to enter Telegram's blockchain ecosystem with a focus on Toncoin.
The new treasury strategy aims to bridge traditional markets with the emerging blockchain ecosystem. It combines staking, validation, and ecosystem development within Telegram's billion-user network. Enzo Villani, the Executive Chairman and Chief Investment Officer (CIO) of AlphaTON Capital, has engaged with the TON blockchain ecosystem.
In a strategic move, AlphaTON has added advisors such as Anthony Scaramucci and Michael Terpin to its team. Enzo Villani has been appointed as the incoming Executive Chairman and CIO, while Brittany Kaiser, a well-known blockchain advocate, has been appointed as the new CEO and board member.
Brittany Kaiser will guide the development of the TON treasury. The company plans to use Toncoin as its primary reserve asset. This move signals institutional interest in Toncoin, and the announcement has resulted in a 2% increase in the TON token's value.
AlphaTON has also formed partnerships with Animoca Brands and Crypto.com. To further strengthen its position in the TON ecosystem, the company has secured a $35 million loan facility from BitGo Prime.
Despite a slight decline in the last week, the TON token surged by more than 5% after its listing on Robinhood. The company raised approximately $38.2 million in a private placement, which will be instrumental in executing its TON treasury strategy.
With these strategic moves, AlphaTON Capital is poised to play a significant role in the development and growth of the TON blockchain ecosystem.
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