- TON Foundation aims for US expansion in a crypto-friendly environment.
- The Telegram-related blockchain project is driven by the Toncoin (TON) token in the crypto market.
Telegram’s blockchain platform, The Open Network (TON), is planning to expand its networks in the US. The Toncoin (TON) token saw a slight increase in value following this announcement.
As per reports, this decision is influenced by the favorable regulatory environment under President Donald Trump.
The TON Foundation shared this development in a blog post released on Tuesday, Jan. 14.
New Leadership
The Open Network (TON) has appointed Manuel Stotz as the new president to lead the strategic entry into the US market. He succeeds Steve Yun, who now serves as a board member in the foundation.
With President-elect Donald Trump supporting digital investments, the US is poised to become a key player in crypto adoption and innovation.
Trump’s administration is expected to introduce favorable regulations for digital assets, creating a safer environment for crypto trading. This contrasts with the previous administration’s stringent policies that hindered crypto growth.
Telegram faced challenges during the previous administration while trying to raise funds for a crypto project in 2020. The foundation had to withdraw due to legal battles with the U.S Securities and Exchange Commission.
In July 2024, Trump, a crypto advocate, praised Bitcoin for its role in promoting freedom and independence.
To attract global investors and establish the US as a digital hub, Trump has launched his family’s digital asset venture, World Liberty Financial, showcasing his commitment to crypto investments.
As part of his agenda, Trump aims to position the US as the global “crypto capital” and has proposed the creation of a Bitcoin reserve in the country.
Tether recently announced its relocation to El Salvador on Monday.