$TON

TON Foundation Changes Chairmanship, Prepares to Expand Operations in the US Market

The TON Foundation recently announced the appointment of its new Chairman, Mr. Manuel “Manny” Stotz, and revealed plans to expand operations in the US market.

TON Foundation Changes Chairmanship

The TON Foundation, the organization behind The Open Network (TON) blockchain and Toncoin, which is closely associated with the Telegram app, has announced a significant change in leadership effective January 14, 2025. Manuel “Manny” Stotz will take over as Chairman, succeeding Steve Yun.

TON Foundation Changes Chairmanship

TON Foundation Changes Chairmanship

Under Steve Yun’s leadership, the TON Foundation has achieved notable milestones and established a clear vision for its future. While he will no longer hold an executive position, Yun will remain on the Board of Directors, ensuring continuity and development of existing strategies.

This leadership change is seen as a strategic move to prepare for expanding operations in the US market in anticipation of a more favorable regulatory environment under newly elected President Donald Trump. The TON Foundation believes that the US is poised to become a global hub for cryptocurrency innovation, marking a significant shift from the Biden administration’s rigid policies.

This expectation is not unfounded, as The Washington Post reported that Trump is likely to sign multiple executive orders on crypto on his first day in office, with the aim of revitalizing the industry in the US.