TON Blockchain Targets US Expansion Amid Pro-Crypto Shift Under Trump

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The TON Foundation is gearing up for a significant growth in the United States, buoyed by optimism about a potentially friendly regulatory environment under the new administration of Donald Trump.

The foundation has announced changes to its leadership as part of this strategic shift. 

TON Foundation to Enter the US Market

In this rephrased version, Manuel Stotz, the founder of Kingsway Capital Partners Ltd., has been appointed as the president of TON’s foundation. Previously serving in this role was Steve Yun, who will now maintain his position on the board.

As one of the founders of Kingsway Capital, he brings extensive knowledge from overseeing billions in investments and collaborating with significant blockchain companies. In tandem with Steve Yun, Manuel will spearhead the Foundation’s objective to further decentralization and forge new alliances with US-based entities, as stated by TON Foundation on their official platform (previously known as Twitter).

On his inauguration date of January 20th, Donald Trump has vowed to make the United States a leading center for digital currencies. According to previous reports from BeInCrypto, it’s possible that he could issue an executive order supportive of cryptocurrencies on his very first day in office.

It is expected that the SEC’s current policies restricting banks from holding Bitcoin and other cryptocurrencies as assets may be overturned, resulting in a reversal of these restrictions.

From a researcher’s perspective, this move signifies a substantial shift away from the restrictive policies that have characterized President Joe Biden’s administration thus far.

Jack Booth, Co-Founder of the TON Society, stated that it’s not just a new US president who can make America great again; TON is also stepping up to assist! TON aims to reach everyone, and soon enough, its impact will be felt everywhere.

The TON Foundation, responsible for advancing the TON blockchain, strives to offer cryptocurrency services to the 950 million users on the Telegram platform.

In the year 2023, the organization was officially set up in Switzerland. This move came after a resolution with the SEC in 2020, which put a stop to Telegram’s initial attempts to raise funds for a blockchain initiative.

By December 2024, our foundation extended its operations to Abu Dhabi, functioning under the ADGM’s distributed ledger technology structure. This strategic shift is intended to offer legal support for decentralized initiatives across the MENA and APAC regions. Our ambition is to serve a user base of approximately 500 million individuals by the year 2028.

Declining Engagement in Tap-to-Earn Games

Although TON had lofty goals, it encountered difficulties along the way. In 2024, the blockchain experienced a surge in transactions thanks to the widespread adoption of tap-to-earn games. However, the total value locked (TVL) decreased significantly from $760 million in July 2024 to $296 million by December.

Concurrently, Toncoin has faced challenges in the market. Over the last month, it dropped by 15%, and currently, it’s still 35% lower than its record high in July. The dwindling popularity of tap-to-earn games like Hamster Kombat is one of the factors contributing to these difficulties.

Previously, Telegram’s CEO, Pavel Durov, was taken into custody in France due to accusations of improper platform usage. Nevertheless, he firmly maintains his innocence regarding these claims.

After incorporating TON into it, Telegram’s earnings exceeded $1 billion by the year 2024. As TON strives to extend beyond Telegram’s environment, enhancing its usefulness and gaining wider acceptance will be crucial for reinvigorating interest in the blockchain.

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2025-01-15 01:35