AlphaTON Capital allocated about $100 mln to form a digital treasury in TON. The company plans not only to accumulate the asset but also to manage nodes, validators, and develop projects based on Telegram mini-apps. The strategy is aimed at growing the TON ecosystem and integrating the blockchain into a social platform with a billion users.
AlphaTON expects Telegram to become a key channel for mass cryptocurrency adoption. The company sees TON’s potential as a blockchain for decentralized finance (DeFi), gaming, and business tools.
Treasury Model and Funding Sources
The company plans to earn through staking, validation, and infrastructure development. This is expected to provide sustainable income and strengthen network security. AlphaTON has already raised $38.2 mln through the placement of 6.7 mln shares and $35 mln in credit from BitGo Prime. The funds will go toward purchasing tokens from third parties and organizing digital asset management operations.
According to the press release, the loan is secured by TON tokens and must be repaid within six months. The company reserves the right to extend the term. The creditor will hold the collateral within AlphaTON’s strategy. The share placement deal is expected to close on September 5, 2025.
Ticker Change and Legal Structure
Starting September 4, 2025, the company will begin trading on Nasdaq under the ticker ATON. Legally, AlphaTON Capital is registered in the British Virgin Islands. The company plans to combine the transparency of a public structure with institutional access to digital assets.
Who Is Behind the Project
Brittany Kaiser, former Cambridge Analytica employee and co-founder of the Own Your Data Foundation, has been appointed CEO. The board of directors includes Enzo Villani, founder of Alpha Transform Holdings and one of the creators of Nasdaq Global Corporate Solutions. He will also serve as executive chairman and chief investment officer.
Strategic partners of the project include BitGo, Animoca Brands, Kraken, SkyBridge, TwinStakes, Crypto.com, DWF Labs, P2P, DNA, and Alpha Sigma Capital Advisors. Advisors include Michael Terpin, Jaime Rogozinski, and Anthony Scaramucci.
Scaramucci, founder of SkyBridge Capital, is rumored to be consulting the company on forming its digital reserve in Toncoin. SkyBridge previously invested in digital assets, including Bitcoin and Ethereum.
Risks and Legal Details
AlphaTON Capital warns of market, regulatory, and technological risks. The success of the strategy depends on TON’s growth, the legal environment, and the quality of project execution. The placement is not a public offering and is being conducted privately. The shares are not registered with the SEC. The U.S. Securities and Exchange Commission will require registration before any resale.
The company maintains its previous biotechnology operations, developing immunotherapeutic drugs, but its main focus is now shifting to TON and digital assets.
AlphaTON Capital is not the first firm to make TON its primary cryptocurrency. Previously, Verb Technology (VERB) announced the repurchase of $558 mln worth of tokens and rebranded as TON Strategy Co. (TSC), becoming one of the largest TON holders among public companies.
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