AlphaTON Launches $100 Million Toncoin Push to Tap Telegram’s Billion Users

- Nasdaq-listed AlphaTON Capital pivots to The Open Network (TON) ecosystem. - $100 million TON token acquisition initiative to fuel growth in TON-based DeFi and apps. On September 3, 2025, GlobeNewswire reported a major shift for AlphaTON Capital Corp. (formerly Portage Biotech). The Nasdaq-listed company is rebranding to focus on The Open Network (TON) ecosystem and will trade on Nasdaq under the new ticker symbol "ATON," effective September 4, 2025. As part of this strategic pivot, AlphaTON is launching a $100 million initiative to acquire TON tokens, an effort aimed at accelerating development within the TON blockchain ecosystem. Significant funding backs the initiative, including $38.2 million from a private placement of approximately 6.7 million ordinary shares at $5.73 per share. In addition, BitGo Prime provides a loan facility of up to $35 million. This move aligns AlphaTON with the growing trend of companies creating “altcoin treasuries” to accumulate specific cryptocurrencies. A notable new leadership team and advisory board will guide the rebranding. CEO Brittany Kaiser, a board member at Gryphon Digital Mining, and Executive Chairman and Chief Investment Officer Enzo Villani will spearhead the initiative. Strategic advisors include Anthony Scaramucci, founder of SkyBridge Capital, and blockchain veterans Michael Terpin and Jaime Rogozinski. In addition to acquiring TON tokens, AlphaTON aims to drive innovation across TON’s infrastructure by managing network operations and incubating projects within Telegram's extensive ecosystem. These projects will focus on decentralized finance (DeFi), gaming, and business tools built on the TON blockchain. Key industry partnerships will enhance AlphaTON’s repositioning, as the company is collaborating with BitGo, Animoca Brands, Kraken, and Crypto.com. These partnerships underscore its commitment to becoming a significant force within the TON ecosystem, which uniquely benefits from Telegram’s billion-user base. According to CoinMarketCap, Toncoin (TON) traded at $3.185 as of 16:09 UTC on September 3, while its 24-hour trading volume increased by 2.122%.