ZUG, Switzerland, August 20, 2025 -- The Open Network Foundation (TON Foundation), the non-profit organization supporting TON Blockchain, today announced the appointment of Mr. Maximilian Crown as President, expanding his current role as Chief Executive Officer. This decision comes as Mr. Manuel Stotz, who has served as President of the Board, steps down to focus on his new role as Executive Chairman of Verb Technology Company, soon to be renamed TON Strategy Co.

Crown was named CEO earlier this year as part of a broader leadership restructuring. His elevation to both President and CEO reflects a natural progression in the Foundation's governance model and the board's trust in his vision for TON's future. A co-founder of MoonPay, Crown has a strong track record in scaling technology platforms and has quickly proven himself a trusted and capable leader since being appointed.

"It's an honour to take on this expanded role and continue building on the incredible foundation Manny helped establish," said Crown. "It reflects the Foundation's full confidence in our shared vision: to place TON at the heart of a decentralized future spanning finance, gaming, digital ownership, and more. I'm excited to lead this next chapter alongside our community and partners."

Manuel Stotz's Ongoing Role in TON Ecosystem

Stotz's decision to step down follows the successful $558 million PIPE transaction by Verb Technology Company, which he now leads as Executive Chairman. In this new capacity, he will continue to play a key role in integrating Toncoin ($TON) into the global financial system.

During his tenure, the Foundation achieved several key milestones: institutional backing from leading U.S. venture firms holding $400 million in Toncoin, Crown took the reins as CEO, and the team supported the U.S. launch of The Open Platform's TON Wallet. His contributions laid the groundwork for TON's current momentum.

Path Ahead for TON Foundation

With Crown now serving as both President and CEO, TON Foundation is well positioned to build on its recent success. The Foundation will continue to support developers, creators, and businesses building on TON Blockchain, from decentralized finance to gaming, through strategic partnerships, grants, and technical resources. Through its exclusive partnership with Telegram, TON is uniquely placed to bring the benefits of blockchain technology to Telegram's global community of 1 billion users.

About TON Foundation

The Open Network Foundation (TON Foundation) is a non-profit organization supported by community contributors to further TON's objectives. Founded in Switzerland in 2023, TON Foundation brings together a diverse range of expertise to support protocol development, help shape the platform, and facilitate ecosystem growth. While an advocate of TON's mission, the foundation does not exercise any authority over TON. TON operates on open-source software, welcomes input and contributions from all individuals, and remains independent of central control. To learn more, visit https://ton.foundation.