The Ton Foundation and Kingsway Capital Partners try to pick up at least $ 400 million for a Crypto -Bitchcist company that would keep Toncoin, according to a Bloomberg News report that people who are familiar with the issue refer.
The planned vehicle would use a private investment in the structure for public shares (Pipe), where a listed company sells shares to a group of investors, one of the people said.
According to the report, Kingsway could be one of the investors. Manuel Stotz, who runs Kingsway, is also president of the Ton Foundation, who works to expand the use of his blockchain, especially in the US.
Despite the rumors, neither Stotz, Kingsway, nor the Ton Foundation made a public explanation. They did not respond to requests for comment.
Ton is the native token of the Telegram Open Network Blockchain. It currently counts as the 27th largest cryptocurrency, with a market capitalization of almost $ 8 billion.
It was made by one of the co-founders of Telegram. Now it works separately from Telegram’s message.
Although most large Cap Altcoins registered considerable profit since the market in April in April, Ton has fallen by 23% from the moment of the press, which is currently being traded at $ 3.17.
Nevertheless, Ton increased by 9% in July, a remarkable feature given the controversy around the reported by the Ton Foundation Offering a gold visa To the United Arab Emirates (VAE) in exchange for token.
The VAE denied the announcementWith a subsequent statement from the Ton Foundation That explains the initiative A pilot project was developed with the help of a recognized partner and had no formal agreement with the government.
Michael Saylor Emulify
Cohen & Co. Offers banking services for the establishment of the Treasury company, one person told the report. The company previously advised Dynamix in a white control of $ 1.5 billion to set up an Ethereum-oriented on Crypto Treasury Company.
In addition, Cantor Fitzgerald has shown interest in exploring the establishment of Toncoin-staging public companies. Cantor has helped starting various high-profile crypto treasure boxes in recent months.
According to the report, the effort is amid a wave of similar plays inspired by the success of the Bitcoin holding company of Michael Saylor, strategy, whose shares have appreciated more than 3,400% in the last five years.
