Telegram-Linked TON Blockchain Eyes U.S. Expansion Amid Pro-Crypto Shift
The Open Network (TON) Blockchain, a project closely associated with Telegram Messenger, is gearing up for expansion in the United States. The TON Foundation, which oversees the blockchain, is optimistic about the incoming Trump administration's favorable stance on cryptocurrency, signaling a potential new era for the digital asset sector in the world's largest economy.
Leadership Changes Reflect Strategic Focus
As part of its U.S. growth strategy, the TON Foundation has appointed Manuel Stotz, founder of Kingsway Capital Partners Ltd., as its new president. Stotz takes over from Steve Yun, who will remain on the board.
Stotz expressed confidence in the U.S. becoming a global hub for cryptocurrency innovation, stating, “We anticipate the U.S. will soon lead the way in fostering a forward-looking crypto ecosystem.”
Trump’s Pro-Crypto Agenda
President-elect Donald Trump, set to take office on January 20, has pledged to position the U.S. as a leader in the digital asset industry. This marks a significant departure from the restrictive regulatory environment under the outgoing Biden administration, which was characterized by crackdowns on crypto firms.
The TON Foundation sees Trump’s pro-crypto policies as a catalyst for its U.S. expansion. The blockchain network, initially developed by Telegram Messenger LLP, aims to capitalize on the anticipated regulatory shift to offer innovative blockchain-based services, including in-app payments and gaming for Telegram’s 950 million global users.
A Complicated History and a Path Forward
The TON Blockchain has faced regulatory challenges in the past. In 2020, Telegram abandoned its initial blockchain project after a settlement with the U.S. Securities and Exchange Commission (SEC) over an unregistered securities offering. Following this setback, the TON Foundation emerged as an independent entity in Switzerland in 2023, committed to nurturing the blockchain’s development.
Despite its progress, Telegram has also faced controversy. CEO Pavel Durov was arrested in France last year on charges related to the spread of illegal content on the platform. Durov denies the accusations, emphasizing the platform’s growth and financial success. Telegram reported over $1 billion in revenue in 2024, showcasing its resilience amid legal and regulatory hurdles.
TON’s Ambitious Vision
The TON Blockchain enables a variety of services, from in-app payments to gaming, often powered by its native cryptocurrency, Toncoin. With a focus on user-centric innovation, the foundation plans to leverage Telegram’s vast global reach to introduce blockchain technology to a mainstream audience.
The TON Foundation’s renewed push into the U.S. aligns with its vision of driving adoption in markets that are poised for regulatory and technological transformation. The foundation believes the pro-crypto Trump administration could provide the supportive environment necessary to achieve these goals.
What Lies Ahead for TON and the U.S. Crypto Landscape
The TON Blockchain’s planned expansion into the U.S. highlights its ambitions to play a pivotal role in the global digital asset ecosystem. Backed by Telegram’s massive user base and buoyed by the promise of a more crypto-friendly regulatory environment, the TON Foundation is positioning itself to thrive in a new era of blockchain innovation. As the U.S. prepares for a potential crypto renaissance under the Trump administration, TON’s strategy exemplifies the opportunities awaiting blockchain pioneers.