AlphaTON Capital Corp., which is listed on NASDAQ (formerly Portage Biotech Inc.), announced on September 3 that Anthony Scaramucci, founder of SkyBridge Capital, will serve as a strategic advisor to assist in facilitating the company's acquisition of Toncoin (TON) valued at approximately $100 million, and to develop applications based on the TON Blockchain within the Telegram mini-program ecosystem.
AlphaTON's Toncoin acquisition plan
AlphaTON stated that it has secured funding to establish a strategic TON reserve and to provide access to the Telegram ecosystem for the public market.
Financing structure:
The private placement will issue approximately 6.7 million shares of common stock at $5.73 per share, raising approximately $38.2 million.
Signed a loan agreement of up to $35 million with BitGo Prime, LLC.
Use of funds: Purchase TON from a third party and repay the loan within six months (extendable)
Total target amount: The preliminary plan is to acquire approximately 100 million USD of TON, some of which may be obtained at a discounted price through strategic partners.
Strategic Advisor and Partner
The advisory team of AlphaTON includes:
Anthony Scaramucci (founder of SkyBridge Capital, former White House Communications Director)
Michael Terpin (crypto investor)
Jaime Rogozinski (Founder of Reddit WallStreetBets)
Strategic partners include BitGo, Animoca Brands, Kraken, and SkyBridge, who will provide support in asset acquisition and ecosystem development.
Telegram ecosystem application development
In addition to accumulating Toncoin, AlphaTON will also focus on the application development of the Telegram mini-program ecosystem, including:
DeFi protocol based on TON
Game Application
Business Tools
AlphaTON CEO Brittany Kaiser stated: "With Telegram's billion users and TON's high-performance blockchain, we are investing in a future where users own their data and digital assets, developers have the freedom to innovate, and financial inclusion becomes a reality."
Market Background of Toncoin DAT
The transformation and rebranding of AlphaTON coincides with the rise of the "Digital Asset Trust (DAT)" model in the market—publicly listed companies concentrating on holding specific crypto assets, providing investors with a channel to enter the crypto ecosystem through the stock market.
Last month, another Toncoin DAT "Ton Strategy" acquired over 700 million USD of TON. This model is becoming a popular strategy among institutional investors, especially for long-term layouts targeting specific blockchains.
Conclusion
The joining of Anthony Scaramucci has injected a strong endorsement into AlphaTON's acquisition of Toncoin and the development plan for the Telegram ecosystem. With the $100 million TON acquisition plan advancing simultaneously with application development, Toncoin is not only likely to gain more attention in the capital markets, but also has the potential to accelerate ecosystem expansion on Telegram's vast user base.
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Anthony Scaramucci serves as an advisor for Toncoin DAT, planning a $100 million acquisition of TON.
AlphaTON Capital Corp., which is listed on NASDAQ (formerly Portage Biotech Inc.), announced on September 3 that Anthony Scaramucci, founder of SkyBridge Capital, will serve as a strategic advisor to assist in facilitating the company's acquisition of Toncoin (TON) valued at approximately $100 million, and to develop applications based on the TON Blockchain within the Telegram mini-program ecosystem.
AlphaTON's Toncoin acquisition plan
AlphaTON stated that it has secured funding to establish a strategic TON reserve and to provide access to the Telegram ecosystem for the public market.
Financing structure:
The private placement will issue approximately 6.7 million shares of common stock at $5.73 per share, raising approximately $38.2 million.
Signed a loan agreement of up to $35 million with BitGo Prime, LLC.
Use of funds: Purchase TON from a third party and repay the loan within six months (extendable)
Total target amount: The preliminary plan is to acquire approximately 100 million USD of TON, some of which may be obtained at a discounted price through strategic partners.
Strategic Advisor and Partner
The advisory team of AlphaTON includes:
Anthony Scaramucci (founder of SkyBridge Capital, former White House Communications Director)
Michael Terpin (crypto investor)
Jaime Rogozinski (Founder of Reddit WallStreetBets)
Strategic partners include BitGo, Animoca Brands, Kraken, and SkyBridge, who will provide support in asset acquisition and ecosystem development.
Telegram ecosystem application development
In addition to accumulating Toncoin, AlphaTON will also focus on the application development of the Telegram mini-program ecosystem, including:
DeFi protocol based on TON
Game Application
Business Tools
AlphaTON CEO Brittany Kaiser stated: "With Telegram's billion users and TON's high-performance blockchain, we are investing in a future where users own their data and digital assets, developers have the freedom to innovate, and financial inclusion becomes a reality."
Market Background of Toncoin DAT
The transformation and rebranding of AlphaTON coincides with the rise of the "Digital Asset Trust (DAT)" model in the market—publicly listed companies concentrating on holding specific crypto assets, providing investors with a channel to enter the crypto ecosystem through the stock market.
Last month, another Toncoin DAT "Ton Strategy" acquired over 700 million USD of TON. This model is becoming a popular strategy among institutional investors, especially for long-term layouts targeting specific blockchains.
Conclusion
The joining of Anthony Scaramucci has injected a strong endorsement into AlphaTON's acquisition of Toncoin and the development plan for the Telegram ecosystem. With the $100 million TON acquisition plan advancing simultaneously with application development, Toncoin is not only likely to gain more attention in the capital markets, but also has the potential to accelerate ecosystem expansion on Telegram's vast user base.