Key Takeaways
- TON Foundation has appointed Manuel Stotz as president as part of its US expansion plans.
- The foundation aims to leverage anticipated pro-crypto policies under Donald Trump.
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TON Foundation has appointed Manuel Stotz as its new president as the blockchain platform sets its sights on the US market ahead of President-elect Donald Trump’s anticipated return to the White House, Bloomberg reported Tuesday.Stotz, founder of Kingsway Capital Partners, succeeds Steve Yun, who will remain on the board. TON is optimistic that the economic powerhouse “will soon become a global crypto hub keenly focused on innovation,” according to Stotz.The Open Network (TON), the blockchain associated with the app giant Telegram, is positioning itself for growth with Trump’s expected pro-crypto policies, including plans to establish a national Bitcoin stockpile and strengthen US leadership in digital assets.The move comes as the crypto industry seeks relief from the regulatory scrutiny and enforcement actions that intensified under the Biden administration, particularly following the collapse of major exchanges like FTX.var rocket_beacon_data = {“ajax_url”:”https://cryptobriefing.com/wp-admin/admin-ajax.php”,”nonce”:”65883d199e”,”url”:”https://cryptobriefing.com/ton-foundation-us-expansion”,”is_mobile”:false,”width_threshold”:1600,”height_threshold”:700,”delay”:500,”debug”:null,”status”:{“atf”:true},”elements”:”img, video, picture, p, main, div, li, svg, section, header, span”}TON’s journey began as the Telegram Open Network, designed to enable fast and secure transactions within the Telegram ecosystem. However, regulatory challenges from the US SEC forced the team to abandon its initial Gram token project in 2020, leading to TON’s transition to an open-source community model.The TON Foundation, established in Switzerland in 2023 as a nonprofit organization, supports projects within the TON ecosystem through a decentralized governance structure without centralized control.
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