TON Foundation to Enter U.S. Market Amid Trump’s Crypto Embrace

The Open Network (TON), a layer-1 blockchain affiliated with the social media platform Telegram, intends to expand its operations to the United States. According to a Bloomberg report referencing one of the project’s top officials, the country will “soon become a global crypto hub keenly focused on innovation.”

TON Foundation to Expand to U.S.

Manuel Stotz, the newly appointed president of the TON Foundation, a non-profit organization developing the growth of blockchain, disclosed the firm’s expansion plans. Stotz, a board member, replaced Steve Yun, the former president and current board member.

Since its 2023 debut, the Foundation has been headquartered in Switzerland. Expanding its operations to the U.S. will ease the process of securing partnerships with local companies. It will also allow American investors to seamlessly interact with the TON blockchain and the decentralized applications (dApps) building within its ecosystem.

Stotz’s conviction that the U.S. will become a crypto-friendly nation stems from Donald Trump’s recent victory as the 47th president. It is no news that Trump has made multiple crypto promises, making onlookers optimistic that the once-crypto-pessimistic nation will become an established crypto hub during the new reign. On January 20th, the President-elect will be inaugurated as president, giving Trump the authority to implement his vows.

Stotz believes that the TON Foundation will become one of the beneficiaries of the new administration. The U.S. government and other governments have investigated the TON blockchain and its affiliated Telegram social platform on various occasions. One such case was the efforts of the U.S. Securities and Exchange Commission (SEC) to shut down TON blockchain operations in 2020 while Telegram headed the crypto project.

Impact on Toncoin

Following news about TON Foundation’s potential expansion, the blockchain’s native coin, Toncoin, jumped by 4.4% in the past 24 hours. Its trading price at press time is $5.36.

As stated earlier, expanding to the U.S. will likely increase Toncoin’s market value as long as the country lives up to its crypto-friendly expectations.