TON Prepares for Institutions.

A $400M reserve play takes Toncoin full macro — Plus: Saylor’s $2B Bitcoin binge, Solana’s speed boost, and top airdrops to claim now.

Author

Cryptopolitan News
July 25, 2025 • Estimated Reading Time: 11 minutes

🧠 Is Toncoin becoming the next institutional reserve asset?

The TON Foundation is taking a bold step.

It just partnered with Kingsway Capital to launch a new treasury company, one that will raise $400 million to buy and hold Toncoin as its core reserve.

No dollars. No bonds. Just TON.

And this isn’t some DeFi gimmick. The raise will follow a traditional PIPE (private investment in public equity) structure, giving early backers shares in a real company. A move straight from the MicroStrategy playbook — but for an altcoin.

Why this matters

Most crypto treasuries are managed quietly by foundations or DAOs. But this is different.

TON is going public with its treasury strategy, aiming to position itself as a long-term, institution-friendly asset not just a Telegram meme coin.

If successful, TON could become:

  • The first Layer-1 token to build a dedicated treasury entity like this

  • A blueprint for how altcoins evolve into financial primitives

  • A real competitor to BTC and ETH for institutional reserves

This comes right after TON Wallet rolled out to 87 million U.S.-based Telegram users, giving the network unmatched reach across both retail and institutional rails.

The market reaction

TON is trading around $3.18, up about 2% since the news broke.

  • Market cap is nearing $7.7 billion

  • Volume has dipped, but RSI and MACD suggest a mild bullish setup

Traders are cautiously optimistic but the bigger story here isn’t today’s chart. It’s whether this treasury play turns TON into a serious macro asset.

The big picture

In a year where crypto is trying to grow up, TON is showing up with receipts.

It’s not just building wallets. It’s building corporate structures. Public fundraising vehicles. Capital formation pipelines.

TON isn’t asking for attention. It’s building the financial infrastructure that demands it.

If Bitcoin is digital gold, and Ethereum is digital oil, TON may be trying to become the first digital reserve currency born inside a messaging app but built for Wall Street.

Ark Invest sold $12.1M in Coinbase shares, also trimming positions in Robinhood, Block, and its Bitcoin ETF.

📈 Market Watch

MicroStrategy, now rebranded as Strategy, has just amplified its planned preferred equity raise from $500 million to $2 billion via its Series A "Stretch" preferred shares. Priced at $90 with a starting dividend of 9%, the offering is led by major banks like Morgan Stanley and Barclays. All proceeds are earmarked to buy more Bitcoin its mission remains unchanged: raise capital, stack BTC, repeat.

The case for: Doubling down on Bitcoin

  • Unmatched Bitcoin holdings: Strategy now possesses over 607,000 BTC, worth ~$72 billion more than any other public company.

  • Investor premium: The company trades at nearly 2× its NAV, suggesting many investors prefer BTC exposure via Strategy over holding Bitcoin directly.

  • Financial innovation: The variable dividend and perpetual structure gives Strategy flexibility to adapt to interest rate shifts without fixed debt

The criticism: High yield, high risk

➡️ Dividend sustainability questions

Strategy pays ~$300 million per year in preferred dividends, yet its original software business generates only ~$460 million in annual revenue. Analysts, including Chris Bloomstran, warn that the company has no clear source of income to support these payouts. If Bitcoin doesn’t surge, who covers the dividend?

➡️ Dilution risk = Eroding value for common shareholders

Preferred shares may convert into common stock, diluting equity. Executives—including Saylor—can punt dividends by issuing even more shares, compounding dilution over time and potentially hurting common

➡️ Premium isn’t guaranteed

Critic Jim Chanos argues Strategy’s premium valuation is unjustified—investors could buy Bitcoin directly. He’s even placed a short against the company, suggesting the premium will narrow as imitation treasury firms emerge.

Putting It All Together

Key Aspect

Perspective

Strategy’s Model

Issuing perpetual preferred equity to buy Bitcoin has become Saylor’s signature playbook. Offers high yield and Bitcoin exposure at a cost.

Risk Exposure

If BTC stalls or falls, Strategy may struggle to service dividends, making dilution or asset sales likely.

Market Sentiment

Sentiment still favors Strategy as a proxy for macro hedging but cracks may grow if momentum fades.

Industry Ripple

As others copy this treasury structure, the novelty and eventual premium could fade fast.

Final Word

Strategy’s $2 billion preferred offering is a bold reaffirmation of its Bitcoin-first mission. It showcases the power of financial engineering and the deep confidence crypto backers have in BTC’s future. But it’s a double-edged sword: without sustainable revenue, this becomes a highly engineered bet on Bitcoin price appreciation, not financial fundamentals.

Trump Media secretly bought $2B in Bitcoin just days after Trump signed a law favoring crypto. Critics question whether Trump used presidential power to pass laws that boost his financial interests.

⚙️ Protocol Watch

Solana developers are back with another major performance upgrade and it could be one of the most important yet.

A new proposal, SIMD‑0286, suggests raising the per-block compute limit from 60 million to 100 million units a 66% boost that would unlock more power for heavy-duty DeFi apps, restaking protocols, and real-time trading platforms.

That means fewer “compute budget exceeded” errors and more room for complex programs like order-book DEXs and MEV auctions to operate at full speed.

TL;DR: More compute = more throughput = more firepower for builders.

Why this matters

  • The last upgrade (SIMD-0256) only just went live on July 23, helping Solana hit ~1,700 transactions/sec

  • But network demand is already outpacing capacity, driven by NFT mints, DePIN, and restaking traffic

  • This new upgrade could push Solana further ahead as the fastest Layer-1 chain actually in use

But there’s more: Solana’s Global Capital Market Vision

Solana isn’t just trying to scale transactions. It’s setting its sights on becoming the infrastructure layer for global internet capital markets (ICMs) by 2027.

What does that mean?

  • A world where currencies, assets, and entire cultures are tokenized

  • Where smart contracts can control how their own transactions are ordered down to the millisecond

  • And where Solana doesn’t rely on the public internet at all, but uses a dedicated fiber network called DoubleZero

DoubleZero is already in testnet with over 100 validators and 3% of stake. If it works as planned, Solana could become the lowest-latency chain in existence with execution speeds rivaling centralized exchanges.

Crypto exchange WOO X has paused transactions after discovering a hack that drained $14 million from user accounts.

💸 Airdrops Watch

$PUMP delayed? Don’t worry. These are live.

While Pump.fun’s co-founder says the $PUMP airdrop “won’t happen anytime soon,” these 5 drops might hit wallets sooner than you think.

Claim, play, refer, repeat. Here’s what’s hot this week:

  1. SNOOPY AI

    Reward: 230M $SNOOPY
    How: Join whitelist, check tier, refer for bonuses
    Why it matters: Early AI + meme play with viral potential
    Status: Active

  2. MetaMask Missions

    Reward: $5K weekly pool
    How: Mint the Pass NFT, complete missions, stack entries
    Why it matters: MetaMask is a top airdrop candidate — the real win might come later
    Status: Active

  3. Omni Launch

    Reward: $5,000 in $OMNI
    How: Post about the project 1–5× weekly, earn streaks
    Why it matters: Social + points + visibility = higher odds
    Status: Active

  4. Plume Network

    Reward: 150M $PLUME prize pool
    How: Bridge, stake, swap — earn campaign points
    Why it matters: Mainnet just launched, backed by big funds
    Status: Active

  5.  Fogo Testnet

    Reward: TBD (but they raised $13.5M)
    How: Interact with testnet projects, request test tokens
    Why it matters: Fresh testnet = likely early airdrop
    Status: Active

🔵 Stories you may have missed

25th July

🧬 Ethereum’s Genesis Block Born (July 25, 2015)

On this day, Ethereum officially launched with the mining of its genesis block, marking the start of a programmable blockchain that would later power DeFi, NFTs, and DAOs.

Join the Conversation!

We'd love to hear your thoughts and comments. Join our community and stay updated with the latest trends and discussions in crypto.

Twitter: @CPOfficialtx

Telegram Channel: @CryptopolitanOfficial