TON Foundation Appoints Manny Stotz As New President, Targets US Expansion

The Open Network (TON) Foundation, closely associated with Telegram, is setting its sights on an ambitious expansion in the United States.

The Open Network (TON) Foundation, linked to Telegram, is planning a major expansion in the United States. This move comes as the foundation expects a more favorable regulatory environment under the incoming Trump administration.

TON Foundation Appoints Manny Stotz As New President

The foundation announced the appointment of Manuel “Manny” Stotz as its new president, a key leadership transition to enhance its growth strategy in the world’s largest economy.

A statement was released by the foundation on Friday, March 10. It announced the appointment of Stotz, an investor and founder of Kingsway Capital Partners Ltd. He will succeed Manuel “Manny” Stotz in the role, with Yun remaining on the board to ensure a smooth transition and continuity in leadership.

“I am honored to step into this role and build on the incredible foundation established by Steve and the entire team,” Stotz said in a statement regarding the key transition.

“TON is uniquely positioned to lead the blockchain revolution. I look forward to working with our partners and stakeholders to accelerate this mission—especially in the dynamic and innovative US market.”

Stotz’s experience in the financial sector, especially in frontier and emerging markets, will be crucial as the foundation expands into the United States. According to the TON Foundation, Stotz has been a member of the board since its inception in Switzerland and possesses extensive knowledge about blockchain technology and its potential to drive financial inclusion.

Stotz's firm, Kingsway Capital, has championed initiatives to provide access to financial services for unbanked populations in regions housing over three billion people.

His investment firm has already backed over 50 leaders in the blockchain sector, including big names like Animoca Brands and Blockchain.com.

“Manny’s extraordinary track record in investment and passion for leveraging blockchain to empower communities make him the ideal leader for this next chapter,” said Steve Yun.

“His vision, commitment, and extensive global network align perfectly with the foundation’s renewed focus on strategic expansions into the U.S. market.”

Toncoin, the blockchain’s native token, is currently trading at $5.34, having faced declines of over 16% in the past month as the broader market struggles to restore bullish sentiment.