TLDR
- Tharimmune secured $540 million in private funding to build a Canton Coin treasury strategy and become a Super Validator on the Canton Network.
- DRW and Liberty City Ventures led the round, with ARK Invest, Kraken, Polychain Capital, and other institutional investors participating at $3.075 per share.
- The company will purchase Canton Coin tokens and operate validator nodes while continuing its biotech operations focused on inflammation and immunology treatments.
- Canton Network is backed by Goldman Sachs, Deutsche Bank, HSBC, BNP Paribas, and other major financial institutions for institutional blockchain applications.
- THAR stock spiked over 120% to $6.70 after the announcement before pulling back to $3.39, finishing Monday up 15%.
Tharimmune completed a $540 million private placement to fund a Canton Coin treasury strategy. The Nasdaq-listed biotech company announced the deal Monday.
DRW and Liberty City Ventures led the funding round. The shares were priced at $3.075 each.
ARK Invest, Kraken, Polychain Capital, and Broadridge participated in the investment. The Canton Foundation also joined, marking its first investment in a publicly traded company.
The private placement is expected to close around November 6. It represents one of the largest digital asset financing deals to date.
Tharimmune will use the proceeds to acquire Canton Coin tokens. The company also plans to maintain its existing biotech business developing therapeutics for inflammation and immunology disorders.
Super Validator Plans and Network Operations
The company intends to become a Super Validator on the Canton Network. This involves operating additional nodes to earn token rewards and support network performance.
Tharimmune will also build applications on the network. Canton Coin is the native token of the Canton Network, a permissioned enterprise blockchain.
The network enables interoperability between financial applications and tokenized assets. Digital Asset Holdings developed the infrastructure.
Goldman Sachs, HSBC, Deutsche Bank, and BNP Paribas back the Canton Network. Paxos, Cboe, and DTCC also support the platform for tokenization and settlement.
Stock Performance and Investment Details
DRW Holdings and Liberty City Ventures will contribute part of their investment directly in Canton Coins. The token is not yet listed on crypto exchanges.
Digital Asset raised $135 million earlier this year in a Goldman-backed round. DRW and Tradeweb led that funding to expand institutional blockchain use cases.
THAR stock jumped more than 120% to nearly $6.70 following the announcement. The shares quickly retreated from those highs.
By Monday afternoon, the stock traded around $3.39. This represented a gain of nearly 15% for the day.
The stock closed Monday up 8.4% on Nasdaq. The sharp price movement reflected investor interest in the company’s crypto treasury pivot.
Tokenized assets now exceed $34.6 billion in total value according to RWA.xyz. Private credit accounts for $18.4 billion of that total.
US Treasury debt represents $8.7 billion in tokenized assets. Commodities make up $3 billion of the market.
Traditional finance institutions continue expanding blockchain operations. The Canton Network provides infrastructure for regulated financial institutions to connect through privacy-enabled atomic settlement across multiple asset classes.
The post Tharimmune (THAR) Stock: Biotech Company Secures $540M for Canton Coin Treasury Strategy appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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