Your Strategy Company, previously known as Verb Technology Company, said on Friday that it had bought 250,000 ordinary shares under its 250 million dollars buy -back agreement.
According to the announcement, your Strategy Company bought the shares at $ 8.32 each, below the treasure asset value of $ 12.18. The acquisition comes just a few weeks after revealing a reserve of $ 713 million in Toncoin (tone) tokens on August 21. The Ton strategy indicates that its acquisition indicates “long -term confidence” in the tone ecosystem.
The Ton token is the native cryptocurrency of the open network, a project that started in 2018 and was initially designed to bring the blockchain to Messaging Service Telegram. The crypto token is classified n ° 22 on the whole in market capitalization, with its price down 40.7% up to date, according to Cointtelegraph indices.
The acquisitions came because the company’s share price fell by 21.6% since the adoption of the reserve treasury of tonnes.
Ton strategy shares decreased by 7.5% on the advertising announcement on Friday.
The company also announced the start of its operations of development to generate ONCHAIN revenues from its treasury assets.
“The implementation introduces a recurring source of income in our model, while buyouts allow us to improve shareholders’ yields,” the CEO of the strategy company of your Veronika Kapustina said in a press release.
The trial is the cryptocurrency locking process to take charge of the operations of a blockchain network, such as the validation of transactions, in exchange for rewards. According to data on ignition rewards, there are 340 validators marked out the Ton network, with annual reward rates at 4.8% when writing this article.
In relation: The founder of Telegram, Pavel Durov
Your Treasury Companies and other date
Your Strategy Company became the first company listed on the stock market to start a Toncoin treasure in August. In July, Bloomberg said that the Tone Foundation and Kingsway Capital Partners, an investment management company based in London, sought to raise at least $ 400 million to start a cash company.
Crypto Exchange Coinbase recently declared that cryptographic cash companies were entering a “VS player player” stage where investors’ money will become more difficult to find.
The New York Digital Investment Group said on Sunday that bonuses are shrinking for these companies and could continue to do so.
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