The Open Network, or TON, has appointed board member Manuel Stotz as president as part of a new strategic focus on achieving growth in the world's largest economy. Stotz, the founder of investment firm Kingsway Capital Partners Ltd., replaces Steve Yun in this role, who remains on the board of directors.
According to Stotz, TON anticipates that "the USA will soon become a global crypto hub focused on innovation."
The newly elected president Trump, whose inauguration will take place on January 20, has promised to make the USA the cornerstone of the digital asset sector. This stands in contrast to the cryptocurrency crackdowns implemented by the administration of outgoing president Joe Biden.