The TON Foundation Prepares to Expand Its Presence in the United States

The Open Network (TON) Foundation, closely linked to Telegram Messenger LLP, is preparing to expand its presence in the United States.

The Open Network (TON) Foundation, closely linked to Telegram Messenger LLP, is expanding its presence in the United States, betting on a more favorable regulatory environment for digital assets under the incoming administration of President-elect Donald Trump.

The foundation announced on Monday that Manuel Stotz, a board member and the founder of Kingsway Capital Partners Ltd, has been appointed as its new president, effective immediately. Stotz replaces Steve Yun on the board, who will continue contributing to the foundation’s strategic initiatives.

Stotz, a board member since 2023, expressed optimism about the United States becoming a global hub for cryptocurrency innovation. His vision aligns with the foundation’s strategic pivot toward tapping into the economic and technological opportunities available in the world’s largest economy.

“I believe that the U.S., with its vast economic and technological might, has the potential to become a global hub for Web3 and cryptocurrency innovation. The foundation is uniquely positioned to contribute to this effort by providing the necessary infrastructure, tools, and support for developers, creators, and entrepreneurs,” Stotz said in a statement to CoinDesk.

A Shift in U.S. Crypto Policy

The TON Foundation’s interest in the U.S. coincides with a stark contrast in regulatory approaches. The outgoing administration under President Joe Biden had implemented a more stringent stance toward the crypto industry, marked by regulatory crackdowns and tighter oversight.

However, President-elect Trump has publicly declared his intent to establish the U.S. as a central player in the digital asset sector, a promise that has drawn the attention of global blockchain organizations.

“President-elect Trump has spoken about making the U.S. a ‘superpower’ in digital assets, which is an interesting development that we are following closely at the foundation,” Stotz added.

TON’s Origins and Mission

The TON Foundation, a nonprofit organization incorporated in Switzerland, supports the growth and development of the TON blockchain, which is closely integrated with Telegram. The platform’s 950 million users can leverage TON’s ecosystem to access a wide range of services, including in-app payments and gaming functionalities. Many of these services rely on the Toncoin token, the native cryptocurrency of the TON network.

The foundation was formally established in 2023 after Telegram’s earlier attempt to launch a large-scale crypto initiative was halted following legal challenges from U.S. regulators. The effort culminated in a settlement with the Securities and Exchange Commission (SEC) in 2020.

Despite these setbacks, the foundation has continued to evolve and focus on expanding its blockchain solutions globally. Telegram’s Chief Executive Officer, Pavel Durov, faced legal difficulties last year when he was arrested in France. Authorities charged him with complicity in facilitating the spread of inappropriate and illegal content on the platform.

Durov has denied these allegations and maintains his innocence. Despite these challenges, he recently reported that Telegram’s revenue surpassed $1 billion in 2024, thanks largely to its expanding user base and paid services, such as premium subscriptions and video calls.

As the TON Foundation prepares to play a more active role in the U.S., its ambitions align with the anticipated digital asset boom under the incoming administration. With a vast user base, innovative blockchain solutions, and a presence in the U.S. market, the foundation is setting the stage for a pivotal moment in both its own growth and the broader development of the blockchain industry.