TON Foundation Aims for U.S. Expansion Under Trump

By Crypto Gloom On Jan 14, 2025

Key Takeaways

TON Foundation has appointed Manuel Stotz as president as part of its U.S. expansion plans.
The foundation aims to capitalize on the pro-crypto policies expected under Donald Trump’s administration.

The TON Foundation has appointed Manuel Stotz as its director. new president A blockchain platform is targeting the U.S. market ahead of President-elect Donald Trump’s return to the White House, Bloomberg reported Tuesday.

Founder of Kingsway Capital Partners He succeeds Steve Yun, who will remain on the board, the report said.

The foundation, described as a non-profit organization dedicated to nurturing and supporting projects within the TON ecosystem, is optimistic that the economic powerhouse “will soon become a global cryptocurrency hub focused on innovation,” Stotz said.

Blockchain related to Telegram It is preparing for growth thanks to the pro-cryptocurrency that Trump expects. The policy is These include a national Bitcoin reserve plan and a push to strengthen America’s leadership in digital assets.

Not only TON but the entire cryptocurrency industry is Attention is being paid to what will happen after Trump takes office. The leadership transition is expected to bring relief to an industry that has long faced regulatory scrutiny and enforcement. the action It has strengthened further under the Biden administration, especially after the collapse of major exchanges like FTX.

The Washington Post (WP) reported that the Trump administration plans to issue an executive order on the first day to support the cryptocurrency industry in the United States and advance blockchain technology. These policies, coordinated with contributions from technology leader Marc Andreessen and AI and Crypto Czar David Sacks, aim to revise accounting standards for digital assets and create a supportive legal environment for cryptocurrency companies.

TON was initially conceived as the Telegram Open Network to facilitate fast and secure transactions within the Telegram ecosystem. The project aimed to integrate encryption capabilities into messaging platforms. Regulatory hurdles led Telegram to abandon its initial cryptocurrency project, Gram, in 2020. In response to these challenges, TON’s development shifted to an open source community model.

The TON Foundation was established in Switzerland in 2023. It operates without a single controlling authority, allowing for community contribution and decentralized governance.

Months after his arrest in France, Telegram CEO and co-founder Pavel Durov appeared in a Paris court last month for his first formal hearing in a criminal investigation into alleged illegal activities on the platform.