In brief
- Protage Biotech is rebranding as AlphaTON Capital and developing a new digital asset treasury focused on Toncoin (TON).
- The biotech firm will keep its existing business, but build its treasury starting with $100 million in TON.
- Shares were up earlier before finishing slightly down. The firm will adopt the ATON ticker starting Thursday.
Biotech firm Portage Biotech is the latest publicly traded firm to shift its focus to a digital asset treasury, securing around $100 million to build a treasury centered on Toncoin (TON)—the asset linked to popular messaging app Telegram and its digital ecosystem.
As part of the strategy shift, the firm will be renamed AlphaTON Capital Corp. and will shift its ticker from PRTG to ATON on the Nasdaq, effective Thursday.
“At AlphaTON Capital, we see investing in TON as the biggest opportunity for the mass adoption of decentralized technologies,” the firm’s incoming CEO Brittany Kaiser told Decrypt.
“TON is at the beginning of its
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Author: Logan Hitchcock
