If hundreds of publicly traded companies begin buying Bitcoin all at once, how can investors separate the winners from the losers? At its most basic, the industry’s answer was mNAV.“If you think about it, most of these [crypto treasury firms] originated by a reverse takeover,” she said “The SEC, under the prior administration, would never have signed off on these companies coming into existence.”Instead of pursuing a time-consuming public offering, many crypto treasury firms have stemmed from reverse merger ...

When bitcoin sneezes, altcoins often catch a cold or worse. For many altcoins, that's exactly the scenario that's playing across more than two months of bitcoin volatility and retrenchment. Understandably, that gives some investors pause about embracing crypto risk. Still, as the old saying goes, if there's blood in the streets, maybe it's a buying opportunity. Regardless of asset class, history shows that when market participants become so decidedly negative, markets often react in opposite fashion. Said d ...

Nasdaq 上市的 TON 代币金库机构 AlphaTON Capital（ATON）宣布已向美国 SEC 提交 4.2069 亿美元的 shelf registration，用于扩大其在 TON 代币、Telegram mini app 生态以及新近上线的 Cocoon AI 网络中的 投资。AlphaTON 此前已将大部分资产负债表配置调整为 Toncoin 及相关质押头寸，并已向 Cocoon 部 署 Nvidia B200 GPU。（The Block） 来源：市场资讯 （来源：吴说） ...

Coinbase announced that it will list Toncoin (TON) and Superfluid (SUP). TON-USD spot trading is expected to open on or after November 18, 2025, at 9:00 a.m. Pacific Time, while SUP-USD trading will open on November 17, 2025; both launches are subject to liquidity conditions in supported regions. https://t.co/rkZ3HNexvC & https://t.co/PMJqEbmxLe ...

Core Points - Nasdaq reprimanded TON Strategy Company for violating shareholder approval requirements related to its $272 million Toncoin acquisition and private placement financing [1][2] - The company will remain listed on Nasdaq as the violations were deemed unintentional rather than deliberate [1][6] Violation Details - The first violation occurred during a private placement on August 7, which raised approximately $558 million through the sale of about 58.7 million shares at $9.51 per unit, resulting in a change of control due to a 19.99% ownership acquisition by the Executive Chairman [2][3] - The second violation involved the $272.7 million Toncoin purchase agreement executed on July 31, where 48.78% of the private placement proceeds funded the acquisition, necessitating prior shareholder approval under Rule 5635(a) [4][5] Compliance and Future Actions - Nasdaq noted that the closing of the Toncoin purchase was contingent on the completion of the private placement, which triggered the requirement for shareholder consent due to the significant financing directed towards digital assets [5] - The company accepted the reprimand and committed to future compliance, with Nasdaq acknowledging that there was no pattern of non-compliance and that the violations were inadvertent [6]

Core Viewpoint - Nasdaq issued a warning to TON Strategy for violating shareholder approval rules related to its cryptocurrency purchases and private stock sales Group 1: Company Actions - TON Strategy, formerly known as Verb Technology, raised approximately $558 million through a private investment in public equity (PIPE) to acquire Toncoin, a cryptocurrency linked to Telegram [2][3] - The company purchased $273 million worth of Toncoin without obtaining the necessary shareholder approval for either the PIPE financing or the subsequent purchase [3] Group 2: Regulatory Response - Nasdaq determined that TON Strategy did not intentionally avoid compliance and opted to issue a warning instead of delisting the stock [4] - The company believed it was following proper procedures based on advice from external advisors during the PIPE financing deal [4] Group 3: Market Dynamics - The incident reflects the rapid changes and blurred lines in the market as public companies increasingly invest in cryptocurrencies to enhance stock prices [5] - Following the acquisition of Toncoin, TON Strategy's stock price surged from around $9 in July to over $22 in mid-August, but has since plummeted nearly 82% to $4.08 [5][6]

Hey crypto enthusiasts, ever heard of Toncoin. It's not just another cryptocurrency. It's backed by Telegram's massive user base.Imagine a billion potential users ready to adopt this blockchain technology. Ton or the open network was originally developed by Telegram but is now communitydriven. What makes it special.Lightning fast transactions, scalability, and userfriendly apps built right into Telegram. It's like having a crypto powerhouse in your pocket. With TON, you can send payments, create smart contr ...

Core Insights - The global financial system is undergoing significant technological and policy changes, with major UK banks initiating a pilot for tokenized pound deposits, expected to last until mid-2026, focusing on market, re-collateralization, and digital asset settlement [1] - Tokenized deposits are seen as a safer alternative to private stablecoins, as they remain within the regulated banking system, supported by the Bank of England [1] - Innovations in the cryptocurrency sector, such as "Stablecoin 2.0" by STBL, are gaining traction, indicating a growing interest in high-yield digital assets [1] - Federal Reserve Governor Bowman has suggested reducing the balance sheet and potentially accelerating monetary policy normalization, which could impact risk assets like cryptocurrencies [3][7] Group 1: Tokenization and Digital Assets - Major UK financial institutions, including Barclays and HSBC, are testing tokenized pound deposits to enhance efficiency and reduce fraud [1] - The pilot program emphasizes programmability and regulatory compliance, contrasting with private projects that focus on yield optimization [4] - The demand for secure digital wallets is increasing as the landscape shifts towards tokenized assets and changing monetary policies [4][10] Group 2: Federal Reserve Policy and Market Impact - Bowman's comments on potentially faster and more aggressive policy adjustments suggest a shift towards a more accommodative monetary stance, which could lower the opportunity cost of holding non-yielding assets [3][7] - A potential interest rate cut could drive more capital into the cryptocurrency market, increasing the demand for reliable digital wallets [3][7] Group 3: Security and User Education - The importance of private key management is highlighted, as losing or exposing private keys can lead to permanent loss of assets [6] - XBIT Wallet emphasizes user education on security practices, including the backup of mnemonic phrases and the use of two-factor authentication [6][8] - The design of XBIT Wallet integrates security audits and user education to help users navigate the evolving digital economy safely [8][10]

Company Strategy - AlphaTON Capital (ATON) plans to acquire approximately $100 million in Toncoin to establish a Telegram-focused digital asset treasury [1] - The company's stock ticker will change to ATON on September 4 [1] Funding and Financing - AlphaTON Capital raised $38.2 million through a private placement [1] - The company secured a $35 million loan from BitGo Prime [1]

Strategic Pivot - Verb Technology acquires $713 million in Toncoin [1] Financial Implication - The acquisition represents a significant investment, potentially impacting Verb Technology's financial strategy and asset allocation [1]