The Ton Strategy Company, formerly known as the Verb Technology Company, said Friday said that the 250,000 sharing of its standard stock was re -purchased on a $ 250 million purchase agreement.
According to In the announcement, the TON Strategy Company again purchased the shares of $ 8.32 each, below the amount of Treasury owned $ 12.18. The purchase will come just a few weeks after it is revealed a $ 713 million reserves of toncoin (Ton) The tokens on August 21. The ton approach states that its purchase indicates “lasting confidence” in ton ecosystem.
The Ton token is the native cryptocurrency of the Open Network, a project that began in 2018 and initially brought a blockchain to the Messaging Service Telegram. The crypto token ranked by No. According to cointelegraph indexes.
The re -purchase will come as the company’s sharing price has dropped 21.6% since the Ton Reserve Treasury’s adoption.
Ton strategy shares declined 7.5% in the announcement of Buyback Friday.
The company also announced the beginning of its staking operations to generate onchain income from the treasury’s holdings.
“Staking introduces a repeated stream of income in our model, as buybacks allow us to enhance the return of the shareholder,” TON Strategy CEO CEO Veronika Kapustina said in a statement.
Staking is the cryptocurrency processing process to support blockchain network operations, such as verification of transactions, in exchange for rewards. According to To staking reward data, there are 340 validators that are actively staking on tons of tons, with annual reward rates at 4.8% as of this writing.
Related: Telegram founder Pavel Durov said the case is nowhere, Slams French Gov
Ton Treasury Company and other DAT
The TON Strategy Company became the first company to be publicly exchanged for the start of a Toncoin Treasury in August. In July, Bloomberg reported That Ton Foundation and Kingsway Capital Partners, a London -based investment management company, sought to raise at least $ 400 million to start a ton of Treasury company.
Crypto Exchange Coinbase recently stated that Crypto treasury companies is entering a stage of “Player VS Player” Where the investor’s money will be harder to find.
The New York Digital Investment Group said this Sunday Premiums are narrow for such companies And can continue to do so.
Magazine: Crypto lawyers – Does Telegram’s Pavev Durov commit a crime?
