The TON Foundation, responsible for The Open Network blockchain platform and Toncoin cryptocurrency, is poised for significant growth in the U.S. under new leadership and the administration of President Donald Trump.
Manuel Stotz Appointed President of TON Foundation
The TON Foundation has named Manuel Stotz as its new president and chairman, replacing Steve Yun who remains on the board. Stotz, founder of Kingsway Capital Partners, will lead TON's efforts to expand its U.S. presence, expected to become a key market as Donald Trump starts his second term.
TON Blockchain Revenues and Challenges
Initially developed by Telegram, TON supported in-app payments and games for the app's 950 million users. The nonprofit TON Foundation, based in Switzerland since 2023, continued the project following Telegram's regulatory hurdles in the U.S. and settlement with the SEC.
U.S. Prospects for TON Foundation
TON Foundation's focus on the U.S. comes amid industry optimism and challenges. Despite the arrest of Telegram CEO Pavel Durov in France last year, the company reported exceeding 1 billion USD in revenue for 2024.
With Manuel Stotz at the helm and favorable crypto policies under President Trump, TON Foundation sees significant growth opportunities in the U.S., potentially becoming a leader in blockchain innovation and cryptocurrency markets.
