Core Insights - The price of toncoin (TON) has decreased by 5% in 24 hours, reaching $2.165, amid intensified market pressure and a reprimand from Nasdaq regarding a $272.7 million purchase of the token [1][2][4] - Trading volumes surged to 5.76 million tokens, nearly 1.5 times the 24-hour average, indicating strong selling conviction [1] - TON Strategy (TONX), the largest publicly listed firm managing a toncoin treasury, failed to secure necessary shareholder approval for a significant token acquisition, which involved a private investment in public equity (PIPE) [3][4] Market Performance - A brief late-session bounce allowed TON to recover from a low of $2.162, but resistance near $2.19 limited further gains [2][4] - The broader crypto market, as indicated by the CoinDesk 20 (CD20) index, experienced a decline of 3.7% in the last 24 hours [2] Regulatory Context - Nasdaq identified a rule violation by TON Strategy but did not recommend delisting, noting no apparent intent to evade compliance [4] - The warning from Nasdaq adds pressure to TON Strategy's efforts to legitimize its public treasury focused on cryptocurrency [4] - TON Strategy currently holds 217.5 million tokens, with price action being influenced by technical levels, showing support near $2.162 and resistance at $2.19 [4]

Group 1 - The company has repurchased over 250,000 shares of its common stock at $8.32 per share, significantly below its stated treasury asset value (TAV) of $12.18 [1] - This repurchase is part of a $250 million buyback program and aligns with the company's strategy to position toncoin (TON) as its primary treasury asset [2] - The company has initiated staking of its TON holdings to generate yield, with potential annual yield near $34 million if the entire treasury of 217.5 million TON tokens is staked, currently trading at $3.24 each [3] Group 2 - The company's shares have declined over 43% in the last 30 days, with a 9.2% drop in the most recent trading session [4] - However, there was a 3.7% increase in after-hours trading following the announcement [5]