Public companies continue to diversify into altcoins, but with mixed effects on share prices and mixed reception from investors.
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VERB Technology Company, a Toncoin acquisition company, said it has accumulated about $713 million in TON () and $67 million in cash, totaling over $780 million in assets.
The company in August, sending its share price soaring by more than 200%. A majority of these funds were used to purchase TON, according to Thursday’s .
VERB has set a target to capture 5% of the altcoin’s circulating supply, about 128 million tokens, through issuing corporate debt and equity and staking to earn more rewards.
Altcoin treasury companies continue to proliferate, giving Wall Street exposure to cryptocurrencies, and leaving investors divided, with some seeing an opportunity to beat returns from directly holding crypto and other investors .
High debt levels among corporations holding crypto could create a cascade of liquidations in the event of a market downturn that would negatively impact digital asset and equity prices, potentially leading to an .
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Several companies announced altcoin treasury strategies or expanded their reserves during August, and investors had mixed reactions to the adoption of altcoin treasury policies.
Bit Mining, a Bitcoin () mining company, announced its first acquisition of Solana () on Aug. 5, alongside several other firms that .
, a publicly traded energy company, expanded its XRP () treasury in August, triggering a 32% rise in its share price.
ALT5 Sigma Corporation, a financial technology company, to finance its World Liberty Financial (WLFI) corporate treasury. WLFI is the governance token of a decentralized finance protocol backed by members of US President Donald Trump’s family.
Safety Shot, a drink company, announced plans to as a treasury reserve asset, sending shares of the company plummeting by over 50%.
Biotech company Windtree Therapeutics, a BNB () treasury company, on Wednesday, after the Nasdaq stock exchange said it was delisting the company for failure to meet compliance standards.
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