Biotech company Portage Biotech is the latest public company to shift its focus to the Ministry of Digital Assets Treasury. Tonoa (tone)– Assets linked to the popular messaging app Telegram and its digital ecosystem.
As part of the strategic shift, the company will be renamed Alphaton Capital Corp. and will shift the ticker from PRTG to Aton on Nasdaq with exercise.
“At Alphaton Capital, we believe that investing in Ton is the biggest opportunity for popular adoption of decentralized technologies,” said Brittany Kaiser, the company’s upcoming CEO. Decryption.
“Ton is at the beginning of an explosive growth curve,” she added. Available in the US market (July). ”
Kaiser will be joined by Enzo Villani, now CEO of Alpha Transform Holdings, as the company’s CIO and executive chairman. Alphaton will also maintain strategic advisors such as Skybridge Capital CEO, former White House communications director Anthony Scaramucci, “The Bitcoin Super Cycle” author Michael Terpin, and Wallstreetbets founder Jamie Rogozinski.
To start the Treasury Department, the company expects to close revenues of approximately $38 million in net revenue from private placement securities sales.
“We are adding to the Treasury by purchasing large ton tokens at a discounted price. We will also accept Ton as an investment and add tons per share to shareholders,” the company’s next CEO added. “This means that the initial market value of more than $100 million will be acquired for less than $70 million.”
The company’s operational strategies include the acquisition of a small tonne, aiming to differentiate it from other Treasury ministries through network verification, staking and debt activities, as well as a commitment to joining within the Ton ecosystem.
“Alphaton Capital will not only develop a robust Ton Treasury Ministry, starting with the acquisition of the first $100 million token token, but will also actively develop, incubate and accelerate business in the Ton and Telegram ecosystems, from Defi to gaming and business applications,” Kaiser said.
“Aton could therefore be exposed to a wider telegram ecosystem,” she added.
PRTG shares rose on Wednesday, reaching a peak of $9.43 after closing at $6.96 on Tuesday. However, the stock ended the day at just $6.84.
The ticker will be changed on Thursday, Kaiser said. Decryption The legacy biotech business will continue to operate.
In August, the published verb technology began its transition to Treasury Ministry. Use $558 million to protect Toncoin.
Toncoin (TON) is not directly related to Tencoin (Ton), but it acts as a native token for Open Network. This is a Layer 1 network originally developed internally within Telegram. The messaging app abandoned development in 2020 amid regulatory scrutiny, with external developers continuing the project. In recent years, Telegram has updated Ton’s embrace.
January, Telegram has agreed to an exclusive agreement with Open Networkmini-apps within ecosystems built with blockchain connections can only use open networks.
Ton has remained roughly flat at its current price of $3.19 over the past 24 hours, but has fallen by around 36% last year.
