The organization connected to Telegram Messenger, known as the TON Foundation, is considering growing its presence in the United States market, hoping for a more supportive regulatory environment following the election of President Donald Trump.
In line with its growth plans within the U.S., the organization has chosen Manuel Stotz, the founder of Kingsway Capital Partners, to serve as its latest president. Previously serving president, Steve Yun, will continue in his role on the board, as reported by Bloomberg.
On the TON blockchain network, which powers Telegram’s massive user base of approximately 950 million people, a variety of services like in-app transactions and gaming are made accessible. Frequently utilized within this ecosystem is the indigenous digital currency, Toncoin.
The foundation’s decision to enter the U.S. market indicates their confidence that America will emerge as a leading international center for advancements in cryptocurrency technology.
From Trump’s election promise to position the US as a key player in the digital assets field, we see a shift in perspective compared to the more restrictive policies of the previous administration.
Trump is pro-crypto
Recently, President-elect Donald Trump has expressed support for cryptocurrencies, marking a change in stance from his previously held skepticism. In July 2024, during a speech in Nashville, he described Bitcoin as symbolizing freedom, self-rule, and financial independence from government control.
Trump’s proposed policies clearly demonstrate his backing towards the cryptocurrency sector. He has vowed to establish the United States as the global leader in crypto, and even proposed the idea of setting up a strategic Bitcoin reserve.
Moreover, Trump has initiated a cryptocurrency business undertaking with his family called World Liberty Financial, suggesting a personal financial involvement in this field.
Earlier, Telegram’s endeavor to gather funds for a cryptocurrency project encountered obstacles from American regulatory bodies, culminating in a resolution with the Securities and Exchange Commission in 2020.
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2025-01-14 17:42