Tharimmune Stock Soars 30% After $540M Raise, Plans Digital Coin Treasury – You Won’t Believe It!

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Finance

What to know:

  • Tharimmune raised a mind-boggling $540 million from DRW and Liberty City Ventures to launch its bold canton coin-based treasury strategy (because why not?!).
  • The Canton Foundation and high-profile firms like ARK Invest, Kraken, Polychain Capital, and Tradeweb also decided to jump on the bandwagon.
  • Tharimmune is now the first public company that proudly aligns itself with the Canton Network, gearing up to operate validators and build some seriously fancy institutional blockchain infrastructure. What could possibly go wrong?

Tharimmune (THAR), that little Nasdaq-listed biotech company you probably never heard of until now, has raised around $540 million in a private placement. It was all led by DRW and Liberty City Ventures. The firm is apparently having a big pivot moment, aiming to build a digital asset treasury (DAT) strategy around the mysterious and slightly elusive canton coin (CC). Yes, it’s real. (They’re serious, don’t worry.)

What’s the reward for this bold move, you ask? Oh, just a tidy little 30% surge in THAR’s stock price. Meanwhile, the canton coin-designed for institutional finance but still kind of a mystery to most of us-lost 4%. But hey, progress is progress, right?

The funding round attracted a parade of big players, ranging from the crypto faithful to traditional finance hotshots, including ARK Invest, Bitwave, Broadridge, Clear Street, Copper, Digital Asset, Kaiko, Kenetic, Kraken, Lukka, Polychain Capital, Proof Group, SBI Group, and Tradeweb Markets. Basically, a who’s who of people who still think the word “blockchain” is the future (or at least a solid way to make money).

And wait for it… The Canton Foundation, which runs the whole Canton Network, decided to hop on too. This move officially makes Tharimmune the first publicly traded company to be supported by the Foundation. Big flex!

The company hopes to close the deal around Nov. 6, assuming the usual “customary conditions” don’t come back to bite them. The money will go toward buying up more canton coin, covering operational costs, and setting up a bunch of validator nodes on the Canton Network so they can grab some sweet CC rewards. Can’t get enough of those blockchain rewards, can they?

For context, the Canton Network, which some say is the “future of finance” (they might be onto something), is already processing over 500,000 daily transactions. The network is backed by the financial heavyweights at Goldman Sachs, DTCC, and BNP Paribas. Sounds like a good place to park some digital assets… until they decide it’s time for the next crypto fad.

Tharimmune’s biotech team is still running the show for now, but they’ve brought in a new CEO, Mark Wendland, to steer the ship toward this wild new treasury plan. Mark Toomey is also stepping in as president. Because why not throw in a couple of new titles to make things sound even more official?

As for the financial heavy-lifting, Clear Street, being the classy financial advisor, is handling the placement for the offering. Who knew these guys were so good at making digital coins sound exciting?

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2025-11-03 19:05