TON Strategy Company (formerly Verb Technology Company Inc., NASDAQ: TONX) announced that its board of directors has unanimously approved a share repurchase program authorizing the company to repurchase up to $250 million of its common stock. The company stated that the program is intended to increase net asset value per share (NAV/share) and create shareholder value during periods of market volatility.

TON Strategy Company completed its name change and ticker symbol change to TONX on September 2nd, transforming itself into a digital asset treasury company focused on TON. The company stated it will continue to expand the TON Reserve through capital operations, staking rewards, and secondary market purchases, and will support the development of the tokenized economy within the Telegram ecosystem. (Business Wire)