TON Strategy Company (TONX), a digital asset treasury firm focused on accumulating Toncoin ($TON), has initiated its previously announced $250 million stock repurchase program. Simultaneously, the company has begun staking its Toncoin holdings to generate on-chain income. Despite these efforts, the company's share price experienced a 7.5% decline on Friday.

The buyback program, authorized by the Board of Directors, allows the company to repurchase shares when the stock trades below its net asset value (NAV). As of September 11, 2025, TON Strategy's total asset value (TAV) per share was $12.18, while the company repurchased shares at an average price of $8.32 per share. So far, TON Strategy has repurchased over 250,000 shares under the program. The company believes these buybacks and staking milestones demonstrate conviction in the company's balance sheet and the long-term opportunity it sees ahead.

Executive Chairman of TON Strategy Company, Manuel Stotz, stated that the company would repurchase shares when the stock trades below its net asset value (NAV) and may issue shares to acquire more Toncoin if it trades at a premium. He also noted that staking allows the company to contribute to the network's security while generating yield. CEO Veronika Kapustina said that staking introduces a recurring revenue stream, while buybacks enhance shareholder returns.

The company's share price has fallen over 21% since announcing its shift to become a TON treasury company, reflecting waning enthusiasm for crypto treasury companies.

TON Strategy's moves coincide with recent milestones in the broader TON network, including the availability of $TON on Gemini, Robinhood, and Zengo, which the Company believes represent steps toward broader market access for the token as the native asset of TON, the blockchain powering Telegram's payments, apps, and digital economy.

TON Strategy Company is focused on accumulating Toncoin ($TON) for long-term investment, whether acquired through deployment of proceeds from capital raising transactions, staking rewards or via open market purchases. The company aims to steadily expand its $TON treasury, stake $TON, and to support the development of a tokenized economy inside Telegram's billion-user platform.

The TON token is the native cryptocurrency of The Open Network, a project that started in 2018 and was initially conceived to bring blockchain to messaging service Telegram. The crypto token is ranked No. 22 overall in market capitalization.

The company completed a $558 million private placement in August and pivoted from its previous identity as Verb Technology Company to focus on TON treasury strategy. TON Strategy Company operates as a long-term holder of $TON and participates in network economics through staking.