The Open Network (TON) foundation is preparing its expansion to the United States, amidst anticipation for the presidential inauguration of Donald Trump.
As CriptoNoticias has reported, the Republican leader expressed his support for cryptocurrencies and promised that, during his second term, there will be favorable regulation to promote the growth of the industry in that country.
In this context, it was learned that the TON foundation appointed Manuel Stotz, who was a member of the board of directors, as its new president. Through a press releaseit was reported that The decision is part “of a new strategic approach to achieve growth in the world’s leading economy.”
Stoz, founder of investment manager Kingsway Capital Partners Ltd., said: “The United States will soon become a global crypto hub focused on innovation.”
If TON expands to the United States, it could attract new users and increase trading volume. This growth would drive up the price of its ecosystem’s native currency, toncoin (TON).
At the time of publishing this note, the price of TON is $5.39.
At the moment, The asset ranks 13th among cryptocurrencies by market capitalization with $12 billion., according to data from CoinMarketCap.
It is important to remember that TON’s performance was affected by the accusations against Pável Dúrov, the founder of Telegram, who was released on bail in France.
Currently, he faces accusations of allowing the use of his platform in illicit activities such as drug trafficking and money laundering. If convicted, he could face up to 10 years in prison.
Much of the TON ecosystem consists of applications that are run by bots on Telegram. In addition, both TON and Telegram shared certain links in their founding stages, although there is no official relationship between The Open Network and the messaging company. This leads many investors to treat TON as if it were something related to Telegram.