The Open Network Foundation said today that Maximilian Crown will take on the additional title of President while continuing as Chief Executive Officer, after the board approved the move. 

Manuel Stotz, who had served as President of the Board, is stepping down to focus on his new position as Executive Chairman of Verb Technology Company following a $558,000,000 PIPE transaction. 

Leadership change at the top

The change is meant to align leadership as the foundation builds on recent wins, including institutional backing and a U.S. launch of TON Wallet, the group said. The board voted to expand Crown’s role and asked him to lead day-to-day strategy and partnerships going forward.

Crown was named CEO earlier this year during a broader restructuring. The board said his promotion to President reflects confidence in his direction for the project. Crown co-founded MoonPay and brings experience scaling payment and tech platforms. 

He has already been handling executive duties since his CEO appointment, and the new title formally folds governance and management under one leader.

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Why is Stotz leaving the board role?

Stotz is moving to Verb Technology Company to serve as Executive Chairman. That move follows a $558,000,000 PIPE transaction tied to Verb’s plans, and Stotz will focus his time there. 

The foundation said he will still support TON’s goals and help with Toncoin integration into wider financial systems while he takes on his new responsibilities.

Recent milestones and backing

Under the board’s watch, TON Foundation secured institutional support from leading U.S. venture firms that hold about $400,000,000 in Toncoin.

The foundation also supported the U.S. rollout of The Open Platform’s TON Wallet, a key step for user access. 

These wins were listed as part of the reasoning for the leadership shuffle and for consolidating executive authority under Crown.

Partnership with Telegram and scale

TON Foundation highlighted its close link with Telegram and noted that the messaging app has about 1 billion users worldwide. 

The collaboration is central to the foundation’s plans to bring blockchain features to a large audience. Foundation leaders say the Telegram connection gives TON a unique chance to test real-world use cases for digital ownership and payments at scale.

UnoCrypto reported that TON Foundation became a client of Crypto.com Custody to boost its security and institutional services. The foundation said it aims to grow into a provider of institutional-grade custody for digital assets. 

Working with a recognised custody firm is meant to reassure bigger investors and firms that the network can handle larger flows of value.

What the foundation will focus on next

With Crown in both President and CEO roles, the foundation plans to keep supporting developers, creators and businesses building on TON Blockchain. This includes grant programs, strategic partnerships, and developer tools. 

The foundation said it will put resources into decentralised finance, gaming and other apps that can benefit from fast settlement and low-cost transactions.

A leader’s outlook

Crown said he feels privileged to take on the expanded role and emphasised a shared vision for TON’s future. He framed the move as a step to accelerate real products and partnerships. 

He also thanked Stotz for his prior work and said the foundation will keep working with partners and the community to grow the ecosystem.

The changes signal a shift from early-stage governance to a more operational posture. Investors and service providers will likely watch how the team uses its institutional backing and custody arrangements to onboard larger players.

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