Official announcement from the TON Foundation or major financial news outlets

TON Foundation Appoints Manuel Stotz as President for US Expansion Amid Trump's Crypto Push

Jan 14, 2025, 01:54 PM

The TON Foundation, linked to the messaging app Telegram, is set to expand its blockchain operations into the United States, driven by President-elect Donald Trump's commitment to making the country a global hub for cryptocurrency. As part of this strategic move, the foundation has appointed Manuel Stotz, a former co-founder of Kingsway Capital, as its new president. Stotz replaces Steve Yun, who will continue to serve on the board. The expansion aims to leverage the anticipated favorable regulatory environment under Trump's administration, which has expressed support for the cryptocurrency industry. The Open Network (TON) platform serves Telegram's 950 million users and uses its native cryptocurrency, Toncoin.