In brief
- Nasdaq warned TON Strategy for violating shareholder approval rules after the company raised over $500 million through a private stock sale to buy Toncoin.
- The exchange said TON Strategy, formerly Verb Technology, did not intentionally evade compliance, and issued only a warning instead of delisting its stock.
- The firm’s stock briefly surged after its crypto pivot but has since plunged over 80%, reflecting the volatility of Wall Street’s rush into digital assets.
Nasdaq has issued a warning to TON Strategy, one of a slew of new crypto treasury companies trading on the stock exchange, for violating its shareholder approval rules.
TON Strategy, a publicly traded marketing firm that recently changed its name and began…
