Ex-biotech company pivots to crypto and buys $30M in Toncoin
AlphaTON Capital, a former biotech company, has rebranded as a digital asset treasury (DAT). The company announced the completion of its first $30 million Toncoin purchase on Thursday.
AlphaTON has become one of the largest holders of Toncoin (TON), the native token of The Open Network. The company said its goal is to grow its Toncoin treasury to $100 million by the end of 2025.
AlphaTON wants to invest $100M in Toncoin
The Nasdaq-listed company closed a $71 million financing round back in early September. The financing round included a $36.2 million private placement of 6.32 million shares. In addition, AlphaTON secured a $35 million loan facility with BitGo Prime.
The ex-biotech company stated that it aims to acquire $100…
