The Open Network Foundation (TON), closely associated with Telegram, is aiming for an ambitious expansion in the United States. This strategic decision comes in a context of expectations of a favorable regulatory environment under the new administration led by Donald Trump.
TON Foundation Names Manny Stotz as New President
The foundation announcement the appointment of Manuel “Manny” Stotz as its new president, a significant leadership transition intended to strengthen its growth strategy in the world’s largest economy.
Manny Stotz, investor and founder of Kingsway Capital Partners Ltd., succeeds Steve Yun, who was instrumental in shaping the foundation’s vision and success. Yun will remain on the board, ensuring a smooth transition and continuity in leadership.
In a statement regarding this crucial change, Stotz expressed gratitude for Yun’s contributions, emphasizing the strong foundation laid during his presidency.
“Steve Yun’s leadership has been instrumental in guiding the TON Foundation to unprecedented growth,” said Stotz. “The entire TON community is deeply grateful for his contributions and looks forward to continuing to benefit from his wisdom and experience as we begin this new phase.”
Aiming for strategic growth in the United States
Stotz’s extensive experience in financial sectorparticularly in frontier and emerging markets, positions him well to lead the foundation’s expansion efforts in the United States.
Having served on the board since its inception in Switzerland, he brings a wealth of knowledge on blockchain technology and its potential to drive financial inclusion, the TON Foundation announced.
Through his company Kingsway Capital, Stotz has championed initiatives to provide access to financial services to unbanked populations in regions home to more than three billion people.
His investment firm has already backed over 50 blockchain industry leaders, including notable names such as Animoca Brands and Blockchain.com.
“Manny’s extraordinary investment experience 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 expansion in the U.S. market.” »
In his new role, Stotz aims to accelerate TON’s adoption in the United States, positioning it as a leader in the growing industry. blockchain ecosystem. “I am honored to take on this role and build on the incredible foundation established by Steve and the entire team,” he remarked.
“TON is uniquely positioned to lead the blockchain revolution. I look forward to working with our partners and stakeholders to accelerate this mission, particularly in the dynamic and innovative U.S. market.
As of this writing, Toncoin, the blockchain’s native token, is priced at $5.34, experiencing a decline of over 16% over the past month due to the market’s overall difficulties in restoring sentiment. bullish.
Featured image of DALL-E, chart by TradingView.com
