TON Foundation eyes US growth under Trump administration as Manuel Stotz assumes presidency to lead the shift.
TON Blockchain Shifts Focus to US Expansion
The TON Foundation, closely linked to Telegram Messenger LLP, is ramping up its presence in the United States, betting on a friendlier regulatory environment under President-elect Donald Trump.
Leadership Change Aligns with New Strategy
Manuel Stotz, founder of Kingsway Capital Partners, has been named president of the TON Foundation. Stotz succeeds Steve Yun, who remains on the board, to guide the nonprofit’s US-centric growth strategy.
TON Foundation welcomes @ManuelStotz as its new President, focusing on expanding operations in the US. 💎 With a strong background in global investment and blockchain, Manuel is well-positioned to lead the next chapter of $TON‘s growth. As a co-founder of Kingsway Capital, he…
US as a Crypto Hub
Stotz highlighted optimism about the US emerging as a global crypto hub focused on innovation, contrasting sharply with the regulatory crackdown under President Joe Biden.
TON’s Role in the Crypto Ecosystem
The Open Network (TON) Foundation supports the TON blockchain, enabling Telegram’s 950 million users to access services like in-app payments and games through its Toncoin token. This aligns with Trump’s promise to make the US central to digital asset development.
Telegram’s Recent Challenges
The TON Foundation was established in Switzerland in 2023 after Telegram’s crypto ambitions faced legal hurdles, including a 2020 SEC settlement. Telegram’s CEO, Pavel Durov, faced legal troubles in 2024 but recently announced the company’s revenue exceeded $1 billion.
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