The TON Foundation, linked to Telegram Messenger, has announced plans to expand into the US market, anticipating more favorable regulatory conditions under President-elect Donald Trump.
Appointment of New President
As part of its US expansion strategy, the TON Foundation has appointed Manuel Stotz, the founder of Kingsway Capital Partners, as its new president. Stotz will succeed Steve Yun, who will remain on the board.
Planned US Expansion
The TON Foundation believes the US will become a global hub for cryptocurrency innovation. The Open Network (TON) is a blockchain platform that enables Telegram's 950 million users to access in-app payments and games, often using its native cryptocurrency, Toncoin.
Trump’s Shift on Cryptocurrency
President-elect Donald Trump has significantly shifted his stance on cryptocurrencies. In July 2024, he referred to Bitcoin as a symbol of freedom and independence from government control. His policies aim to establish the US as a crypto capital and propose the creation of a Bitcoin strategic reserve. This contrasts with the stricter regulations of the previous administration.
The TON Foundation is taking steps to strengthen its position in the global cryptocurrency market, anticipating relaxed regulations in the US under the new administration.
