The TON Foundation has announced a significant leadership transition, appointing Manuel “Manny” Stotz as its new President. Stotz, an experienced investor and advocate for blockchain technology, will focus on expanding the foundation's presence in the United States.

Stotz succeeds Steve Yun, who has been instrumental in shaping the foundation's vision and achieving substantial milestones during his tenure. Yun will remain actively involved as a member of the foundation’s Board, providing continuity and guidance as the organization embarks on its next phase of development.

In a statement reflecting on his leadership, Stotz expressed gratitude for Yun's contributions and emphasized the foundation’s commitment to innovation and community engagement. “Steve Yun’s leadership has been instrumental in guiding TON Foundation to the level of unprecedented growth the TON community has achieved today,” he said. 

“The entire TON Community is deeply grateful for his contributions and looks forward to continuing to benefit from his wisdom and experience as we embark on this new phase.”

Stotz brings a wealth of expertise to his new role. He has served on the TON Foundation’s Board since its establishment in Switzerland and is the founder of Kingsway Capital, a London-based investment firm that manages several billion dollars in assets. 

The firm primarily invests in frontier and emerging markets, focusing on financial inclusion in regions with limited access to banking services. Through Kingsway, Stotz has supported over 50 blockchain sector leaders, including Animoca Brands, Blockchain.com, and CoinDCX, underscoring his dedication to advancing blockchain technology as a tool for economic empowerment.

Outgoing President Steve Yun expressed confidence in Stotz’s leadership, describing him as the ideal candidate to guide the foundation’s strategic expansion into the US market.

“Manny’s extraordinary track record in investment and passion for leveraging blockchain to empower communities make him the ideal leader for this next chapter,” Yun said. “His vision, commitment, and extensive global network align perfectly with the foundation’s renewed focus on the U.S. market.”

Stotz described his appointment as an opportunity to build on the foundation’s strong legacy. “I am honored to step into this role and build on the incredible foundation established by Steve and the entire team,” he said. 

“TON is uniquely positioned to lead the blockchain revolution. I look forward to working with our partners and stakeholders to accelerate this mission, especially in the dynamic and innovative U.S. market.”