TON Foundation prepares for U.S. push

The TON Foundation, which supports the TON blockchain, is planning to expand operations in the U.S. market. The initiative will be led by Manuel Stotz, the foundation’s recently appointed president and co-founder of the investment firm Kingsway Capital. The move is expected to accelerate the efficient growth of the TON ecosystem in the USA.

The project previously had a negative experience with U.S. regulators. In 2018, Telegram planned to launch the TON blockchain and raised funds with the help of famous investors, but the SEC blocked the efforts. TON co-founder Pavel Durov later announced the company had given up the idea because of the U.S. court decision.

After that, third-party developers launched the Free TON platform. From the technical viewpoint, it was the same as the TON ecosystem created by Pavel Durov’s team. However, the platform’s founders insisted that Durov had nothing to do with their project.

In 2023, the TON Foundation was established in Switzerland as a non-profit organization that supported the TON development. Recently, the foundation revealed that, according to its new strategy, the TON would make “significant steps forward” in the following few months.

Currently, the TON ecosystem includes numerous apps, from crypto wallets to games and stores. According to 2024 data, the number of accounts on the network increased from approximately 4 million to 130 million.