TON Foundation plans US expansion

• TON Foundation seeks US expansion amid growing crypto-friendly environment.
• In the crypto market, Telegram-related blockchain project is powered by the Toncoin (TON) token.

Telegram related blockchain platform The Open Network (TON) plans to extend its operation networks in the US. The Toncoin (TON) token rose slightly amid the news.

According to details in a report, the move is inspired by President Donald Trump’s friendly regulatory policies.

TON Foundation shared details of the key development in a blog post published on Tuesday, Jan. 14.

New appointments

The Open Network (TON) has appointed Manuel Stotz as president to spearhead the strategic entry into the US market. He comes after his predecessor Steve Yun who remains as a board member in the foundation.

Following President-elect Donald Trump’s win , who is an investor in digital space,the US will grow into a digital hub enhancing crypto adoption and innovation.

Trump’s administration will promote favourable digital assets regulatory policies to make the US a safer crypto market. The previous administration blocked out many crypto investors by placing strict policies.

During the previous administration, Telegram faced hurdles as it tried to raise funds for a cryptocurrency project in 2020. The foundation had to bow out after a series of legal proceedings with the U.S Securities and Exchange Commission.

Trumps who is pro-crypto in July 2024 described Bitcoin as significant marker of freedom, sovereignty and independence in his speech

To make the US a digital hub and attract global investors, Trump has promised  his support for crypto investment. For an avid crypto investor he is, Trump has recently launched his family’s digital asset venture dubbed World Liberty Financial.

Among his policy formulations, the incoming president has announced plans to make the US the “crypto capital” globally. He also spoke of making a Bitcoin reserve in the US.

Tether announced it was relocating operations to El Salvador on Monday.