Monat: August 2025

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Verb Technology confirms $713M TON stake after $558M private placement

  • Its treasury has surpassed $780M, comprising $713M in Toncoin and cash worth $67M.
  • The milestone comes after a $558M private placement completed early this month.
  • Verb aims to accumulate 5% of Toncoin’s circulating supply.

Institutional players dominate market trends with dib-buying activities after the current broad market decline.

NASDAQ-listed Verb Technology, which will soon rebrand to Ton Strategy Company, has revealed a key milestone that aligns its vision with the Telegram-based blockchain.

The livestreaming firm has disclosed that its treasury assets have surpassed $780 million, with the Open Network’s native token accounting for the most at $713 million.

It holds the remaining $67 million in cash.

The development has attracted attention as it follows Verb’s $558 million private placement early this month.

The fundraising drew crypto-oriented investors and over 110 institutions, confirming trust in Verb’s digital asset strategy and the Toncoin project.

Commenting on the milestone, Verb’s Executive Chairman Manuel Stotz stated:

Crossing $780 million in assets just days after our private placement reflects the conviction behind $TON. This is more than building a balance sheet; it’s about contributing to the security of TON blockchain – where participants can build, transact, and benefit directly from the underlying financial protocols.

Verb eyes 5% of Toncoin’s supply

Verb Technology plans to be the central player in the Open Network ecosystem.

It plans to acquire over 5% of Toncoin’s circulating supply (currently at 2.56 billion tokens).

That would make Verb a top participant in securing the TON blockchain.

Moreover, the company plans to add its Toncoin balance on a per-share basis over time, leveraging staking rewards, disciplined market activity, and cash flow reinvestment.

That would ensure Verb’s active participation in supporting the platform’s infrastructure while benefiting from maximized returns.

Stotz added:

By becoming the first and largest publicly traded treasury reserve of TON, VERN is not just holding TON on its balance sheet – we are helping to strengthen the economic foundation of the network itself.

TON and potential

Verb Technology isn’t zeroing in on a random digital asset.

Toncoin remains the first coin to receive support from a leading social site.

Dogecoin appears to have failed in its fight to become X’s (formerly Twitter) payment token.

Telegram, the leading messaging platform with around 1 billion active users per month, collaborated with the Ton Foundation to make Toncoin the sole asset powering its ecosystem.

The integration enriched the alt’s utility, now the backbone for payments, wallets, and emerging decentralized applications (dApps) within Telegram.

The use cases likely elevated TON’s institutional appeal.

Recently, Coinbase Ventures endorsed Toncoin as the ideal token for fueling cryptocurrency adoption.

Toncoin price action

The alt trades at $3.30, reflecting the prevailing broad market declines.

Meanwhile, the minor 0.71% price increase signals a possible momentum shift as the community digests Verb’s updates.

Toncoin Price Chart on Coinmarketcap

TON could see brief gains in the near term, but the broad market outlook suggests short-lived gains.

Nonetheless, institutional interest positions Toncoin for impressive growth and price performance in the coming months and years.

The post Verb Technology confirms $713M TON stake after $558M private placement appeared first on CoinJournal.

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Kanye West’s “Yeezy Money” crypto crashes 61% despite $3B hype

  • Yeezy Money (YZY) hit $3B market cap before crashing over 60% in hours.
  • Top wallets hold nearly 90% of the supply, sparking rug-pull fears.
  • Insider trades flipped $450K into $1.5M within launch day.

Kanye West’s bold entry into the world of digital assets has taken a dramatic turn.

His Solana-based crypto, Yeezy Money (YZY), launched with fanfare and hype that briefly pushed its market capitalisation to $3 billion.

However, within hours, the YZY coin’s value collapsed, leaving investors staring at losses of more than 60%.

The launch of Yeezy Money was marked by a mix of celebrity power, technical intrigue, and immediate controversy.

Kanye West, who has rebranded himself as Ye, used his official account to promote the token with a short clip claiming “The official Yeezy token just dropped.”

But what followed was one of the most volatile trading debuts in recent memory.

From $3 billion peak to freefall

Moments after launch, the YZY token surged to more than $3 billion in market capitalisation.

At one point, it was trading above $3 per token, sparking a frenzy across Solana-based exchanges.

The hype attracted big names in the crypto space. Arthur Hayes, co-founder of BitMEX, publicly admitted buying into YZY, at first joking that he hoped West would not “rug” him.

Hours later, as prices tumbled, Hayes conceded that he had made a mistake, writing that he should not have traded “shitters” like YZY.

Other traders, including leverage specialist James Wynn, also took positions, highlighting how even seasoned market participants can get swept up in celebrity-driven frenzies.

The YZY token rally was very short-lived. Within three hours, the token shed more than 65% of its value, tumbling below $1.20.

By Thursday evening, the coin had fallen even further. CoinMarketCap showed it trading around $0.99, down 61% in a single day.

YZY MONEY price chart

The crash left its market capitalisation hovering near $298 million, a fraction of the peak it had touched just hours earlier.

The heavy trading volume told its own story. In the first 24 hours, YZY recorded nearly $1 billion in trades, with volume surging by more than 37,000%.

For many traders, the swings underscored the risks of a token built more on celebrity hype than demonstrable utility.

Insider wallets raise alarms

On-chain analysis quickly highlighted troubling patterns. On-chain data reveals that the top six wallets controlled close to 90% of the total supply.

In fact, one multisignature wallet alone accounted for 87% before distribution. Such concentration has left critics warning of a textbook “rug pull” scenario.

LookOnChain, a blockchain analytics firm, flagged several wallets that appeared to have privileged access to the token before the public.

One insider spent about $450,000 in USDC to secure 1.29 million YZY at a low entry price, only to flip the holdings for more than $1.5 million within hours.

For retail traders who entered later, the story was very different, with some losing hundreds of thousands of dollars after buying into the wrong contracts or chasing inflated prices.

Kanye’s shifting stance on crypto

The YZY launch has drawn attention because of Kanye West’s previous comments on digital currencies.

Earlier this year, Kanye dismissed memecoins as scams that exploit fans through hype.

He even claimed that he turned down a $2 million offer to promote a fake cryptocurrency, warning at the time that such schemes “scam the public out of tens of millions of dollars.”

Kanye’s decision to front Yeezy Money, therefore, came as a surprise.

The official website pitched it as the foundation of a new financial ecosystem, complete with Ye Pay, a payment processor meant to undercut traditional card networks, and the YZY Card, a tool for spending in both crypto and fiat.

The platform claimed to be “a new economy, built on chain,” though many observers noted that no working products accompanied the promises.

Despite the turbulence, Yeezy Money has carved out a cultural moment.

Like Donald Trump’s NFT collections or Iggy Azalea’s token launches, West’s venture into crypto underscores the growing crossover between pop culture and digital finance.

Solana itself even saw a boost, rising more than 2% as investors chased the hype.

The post Kanye West’s “Yeezy Money” crypto crashes 61% despite $3B hype appeared first on CoinJournal.