TON Foundation Eyes US Expansion Under New Leadership

Key Points:

  • Manuel Stotz was appointed president and chairman of the TON Foundation, which focuses on expansion in the U.S.
  • The TON Foundation aims to grow in the U.S., capitalizing on the pro-crypto policies expected under President-elect Donald Trump’s leadership.
The TON Foundation, responsible for the blockchain platform of The Open Network and the Toncoin cryptocurrency, is about to experience some unprecedented growth in the United States under new leadership and the incoming administration of President-elect Donald Trump.
TON Foundation Eyes US Expansion Under New Leadership

Read more: Crypto Super App Telegram Boosts TON Blockchain With Over 900M User Base

TON Foundation Names Manny Stotz as New President Amid Strategic Shift

TON Foundation named Manny Stotz as its new president and chairman, a role formerly occupied by Steve Yun, who remains on the board. In his new capacity, Stotz-also founder of Kingsway Capital Partners-led the effort beginning Tuesday to helm TON’s efforts to increase its U.S. footprint, now expected to become one of the world’s most important markets as Trump begins office.

The crypto industry has taken Trump’s comments as a cue for favourable regulations and executive orders that promote blockchain innovation. The re-elected President, who won his second term in November 2024, has emerged as one of the most staunch proponents of cryptocurrencies, including Bitcoin.

Telegram’s TON Blockchain Surpasses $1 Billion Revenue Despite Regulatory Challenges

Developed originally by Telegram, TON supported in-app payments and games for the messaging app’s 950 million users. The nonprofit TON Foundation, which has been headquartered in Switzerland since 2023, picked up the project after Telegram hit some regulatory roadblocks.

In 2020, Telegram also settled with the U.S. Securities and Exchange Commission over an attempt to raise billions for a cryptocurrency initiative.

The renewed U.S. focus by the TON Foundation comes amid broader industry optimism and challenges. Telegram Chief Executive Officer Pavel Durov, arrested in France last year on suspicion of misusing the platform, denied the charges and recently said the company’s revenue topped $1 billion in 2024.

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