Telegram-affiliated blockchain network The Open Network (TON) is preparing to expand its presence in the United States. TON is expecting a favorable regulatory environment following statements from President Donald Trump. The TON Foundation, which backs the blockchain project, announced leadership changes on Tuesday as part of its strategy to expand into the world’s largest market, reported the Bloomberg.
Manuel Stotz, founder of Kingsway Capital Partners, has been named the new president of the TON Fund. He replaces Steve Yun, who will remain on the board of the fund. Stotz emphasized that the TON Fund sees the United States as a promising crypto hub focused on innovation.
“We believe that the US will soon become a global leader in the crypto industry, focused on supporting innovation and technological development,” — said Stots.
The change comes amid expected changes in digital asset policy with the change of administration in Washington. During the election campaign, Trump made it clear that he wanted the US to be the dominant player in the blockchain and cryptocurrency space. This is in stark contrast to the Joe Biden administration, which has introduced stricter regulations on cryptocurrency exchanges and decentralized finance platforms.
The TON blockchain, which was originally developed by Telegram and later became a decentralized project, has close ties to the messenger. The network provides services such as built-in payments and gaming to Telegram's nearly 950 million users via the Toncoin token.
Under Stots’ leadership, the TON Foundation plans to focus on expanding its user base and integrating blockchain services into everyday applications. The foundation’s primary goal is to leverage Telegram’s vast global audience to promote the widespread adoption of blockchain technology.
The cryptocurrency industry is seeing Trump’s return to power as a potential turning point for the market. His administration is expected to adopt a more crypto-friendly stance, which could attract more blockchain projects to the US and spur innovation in decentralized technologies.
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