The Telegram-affiliated TON blockchain is set to expand its operations into America. This comes as the country welcomes a new administration in six days. The TON Foundation is looking to capitalize on President-elect Donald Trump’s pro-crypto policies. The entity plans to grow its reach on the largest economy in the world.
According to a Bloomberg report, the foundation announced that board member Manuel Stotz will be stepping in as president. His appointment follows Steve Yun’s departure. As reported, Yun will leave his leadership duties but keep his position on the board.
Stotz is optimistic that the US will soon emerge as the leading global hub for crypto innovation. “The U.S. is positioned to become a leader in the digital asset sector,” he said in a statement.
This move comes as Republican President-elect Trump prepares to take office on January 20, 2025. Trump has made clear his plans to make the US the global crypto capital. This contradicts the regulatory clampdown seen under Biden and Kamala’s outgoing administration.
TON Foundation unveils its global ambitions
The TON Foundation, a nonprofit organization, is focused on nurturing the TON blockchain ecosystem. This decentralized ledger powers Telegram’s vast user base of 950 million.
The blockchain offers services like in-app payments and games, often facilitated by the associated Toncoin token.
Originally founded by Telegram as a means to revolutionize the crypto landscape, TON’s efforts to get off regulators’ bad side haven’t seen much success.
The foundation was established in Switzerland in 2023. This was after Telegram’s earlier attempt to raise billions for a crypto project was blocked by US financial watchdogs.
The legal battle culminated in a 2020 settlement with the US Securities and Exchange Commission (SEC), which led to the project’s separation from the social media company Telegram.
Soon after Ton started picking market dominance, Telegram CEO Pavel Durov was arrested in France. He was charged with complicity in the distribution of child sexual abuse images, among other offenses in 2024. Durov has since denied the charges.
Last month, he reported that Telegram’s total revenue hit $1 billion in 2024.
Despite these challenges, the TON blockchain was successful with the strategic launch of its Layer 1 blockchain – The Open Network (TON chain). The platform prides itself on being a fast, secure network with scalable transactions that enable decentralized applications (dApps) to thrive.
Nansen forms partnership with TON Blockchain
TON is doing well in the Trump rally. Recently, blockchain analytics firm Nansen announced it’s teaming up with the TON network to deliver advanced on-chain insights. The collaboration aims to grow the user experience by providing powerful data tools for Web3 developers, investors, and the broader crypto community.
Nansen, known for its expertise in on-chain analytics, shed light on the importance of the partnership in expanding its suite of blockchain tools. They stated:
“By integrating with TON Blockchain, we are taking a significant step forward in providing powerful analytics that will drive sustainable growth and foster innovation within the TON ecosystem,” said Alex Svanevik, CEO of Nansen.
The partnership’s first major rollout includes the introduction of the Query and Growth Dashboards. These advanced tools are designed to provide deep insights into the TON ecosystem. They are to enhance visibility and equip users with actionable data to make informed decisions.
By partnering with TON Blockchain, Nansen believes it will provide the blockchain community with the “tools and insights” necessary to stay ahead in the market.
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