The Open Network Foundation, also known as the TON Foundation, has announced the appointment of Maximilian Crown, co-founder of MoonPay, as their new CEO. This shift in leadership comes at a time when the TON ecosystem is witnessing a sluggish growth pattern, indicated by data from TonStat regarding daily transactions and fees.
Last year, the TON blockchain saw a substantial increase in activity driven by Telegram-based mini apps and games such as “Notcoin” and “Hamster Kombat”. However, this momentum has since slowed.
Earlier this year, the foundation also appointed Manuel Stotz as president. Crown brings to the table a rich entrepreneurial experience, having co-founded MoonPay, a leading name in global crypto payments. As the CFO and COO of MoonPay, Crown played a crucial role in defining the company’s finance and operations, helping it grow into one of the largest crypto payment platforms globally. He has also successfully built strong ties with banks, payment companies, and regulatory bodies, solidifying MoonPay’s reputation as a trusted fintech leader.
Despite the slow growth, TON blockchain’s active user count exceeded 40 million over the past year, and the ecosystem now boasts 121 million “unique” Toncoin holders, as per the foundation’s claim.
In February, TON’s previous president, Steve Yun, started a $100 million fund called TVM Ventures, aimed at TON-based startups. He mentioned his expectation for TON to secure a significant portion of the stablecoin market in the coming years.
Last month, the TON Foundation announced that a consortium of venture capitalists, including Sequoia Capital, Ribbit, Benchmark, and Kingsway, had invested over $400 million in the Toncoin cryptocurrency.
