TON treasury files $420.69 million meme shelf registration to invest in tokens and Telegram AI ecosystem
AlphaTON Capital filed a $420.69 million shelf registration to fund expansion in Telegram's AI network and acquire ecosystem companies.Summary
Nasdaq-listed TON token treasury firm AlphaTON Capital Corp (ATON) has filed a $420.69 million shelf registration statement with the SEC, an amount notably similar to FTX's past "meme round." This funding aims to finance AlphaTON's expansion of AI and high-performance computing infrastructure to power Telegram's Cocoon AI network and support its M&A strategy targeting revenue-producing companies within the Telegram ecosystem. The company was previously limited by the SEC's "baby shelf rules." CEO Brittany Kaiser stated this milestone provides the flexibility to pursue transformational opportunities, including acquiring startups focused on payments, content distribution, and blockchain services within The Open Network (TON) ecosystem, while also building its treasury of Toncoin and associated digital assets. Cocoon, built on the TON blockchain, is a decentralized AI compute platform that recently launched and pays users in Toncoin for renting out GPUs. AlphaTON has already deployed Nvidia B200 GPUs to the network, creating a new revenue stream.
(Source：The Block)